LayoffBlog.com

January 19, 2009

Most cities to suffer job losses.

Only five metropolitan areas in the U.S. will escape job losses this year, according to a forecast released Saturday by the U.S. Conference of Mayors.

New York is expected to take the biggest hit as thousands of jobs are lost on Wall Street. The New York area is expected to lose 181,000 jobs in 2009, the report said. Consulting company IHS Global Insight produced the report for the group.

The Los Angeles area is expected to see 164,000 lost jobs, in part because of the huge drop in home prices that has punctured the California economy. Miami area is expected to lose 85,000 jobs and Chicago and the surrounding area are next, with losses projected at 80,000.

Ithaca, N.Y.; Fairbanks, Alaska; and St. George, Utah, are among the handful of the nation’s 363 metropolitan areas expected to see employment remain flat or increase slightly.

Source: AP

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