Employers shedding jobs as recession deepens

[Crabtownboy]

WASHINGTON – With the economy sinking faster, employers are giving more Americans dreaded pink slips right before the holidays.

The Labor Department releases a new report Friday that's expected to show the employment market deteriorated in November at an alarming clip as the deepening recession engulfed the country.

After bolting to a 14-year high of 6.5 percent in October, the unemployment rate likely climbed to 6.8 percent last month, according to economists' forecasts. If they are right, that would mark the worst showing in 15 years.

Skittish employers, which have slashed 1.2 million jobs this year alone, probably axed another 320,000 last month, economists forecast. If that estimate is correct, it would represent the deepest cut to monthly payrolls since October 2001, when the economy was suffering through a recession following the Sept. 11 terrorist attacks.

http://news.yahoo.com/s/ap/20081205/ap_on_bi_ge/financial_meltdown

 

[Salty]

Rush Limbaugh had an interesting theory today. He said some employees are laying off employees before Obama takes over, so they possibly will not be subject to the "new union voting rules" that would be forced on businesses.

Also, they realize that costs, such as taxes, mandatory insurance and ect may increase.

 

[KenH]

I was wondering if someone would pass along Rush Limbaugh's talking points.

I am glad I stopped paying attention to Rush Limbaugh over a year and half ago and now might listen to him for a couple of minutes just before I arrive home for lunch. A couple of minutes a day are about all I stand of his right-wing rants anymore.

 

[Revmitchell]

I was wondering if someone would pass along Rush Limbaugh's talking points.

I am glad I stopped paying attention to Rush Limbaugh over a year and half ago and now might listen to him for a couple of minutes just before I arrive home for lunch. A couple of minutes a day are about all I stand of his right-wing rants anymore.

Yea, the truth is a hard pill to swallow at times.

 

[KenH]

Because I am interested in truth is why I find Rush Limbaugh's right-wing rants to be repugnant.

 

[LeBuick]

Yea, the truth is a hard pill to swallow at times.

You can't be implying Rush' theory is truth are you?

 

[LeBuick]

Skittish employers, which have slashed 1.2 million jobs this year alone, probably axed another 320,000 last month, economists forecast. If that estimate is correct, it would represent the deepest cut to monthly payrolls since October 2001, when the economy was suffering through a recession following the Sept. 11 terrorist attacks.

They say after the 533K jobs lost last month this is the highest unemployment since 1974... You know, the Ford years that Carter had to rescue us from.

 

[KenH]

LeBuick,

Before long I won't be surprised if the right-wingers start blaming President-elect Obama for the Depression of 1807, the Depression of 1837, the Depression of 1873, the Depression of 1893, and the Depression of 1929-1939. :laugh:

 

[LeBuick]

LeBuick,

Before long I won't be surprised if the right-wingers start blaming President-elect Obama for the Depression of 1807, the Depression of 1837, the Depression of 1873, the Depression of 1893, and the Depression of 1929-1939. :laugh:

Don't forget Carter, they blame him for the mess he inherited from Ford...