LayoffBlog.com

January 7, 2009

Fed Minutes Offer No Comfort

According to Forbes: “The U.S. Federal Reserve sees an economy mired in recession, with only a slow march to improvement into 2010.”

“Most members of the policy-setting committee expect the economy to recover slowly in the second half of 2009, with an aggregate contraction in the country’s gross domestic product for the year, and a significant rise in unemployment into 2010.”

“[..]they expect the worst financial crisis in more than a half century is going to get even worse. In addition to putting further pressure on U.S. home prices, the unemployment rate will also rise above 11.0%, they projected.”

November 24, 2008

New York May Lose 225,000 Jobs, Comptroller Says

According to Bloomberg: “New York may lose as many as 225,000 jobs and $6.5 billion in securities industry-related tax revenue over the two-year period ending in October 2009, state Comptroller Thomas P. DiNapoli said.

In a report published today, he predicted financial- industry job losses may total 38,000 by October, with 10,000 more jobs lost in banking, insurance and real estate. Those losses could spread throughout the private sector, taking out as many as 225,000 positions statewide, he said. “

November 20, 2008

Crisis Monitor at Flickr: Sacramento, California

Sign Waver job only

Sign Waver job only

Photo: CrisisMonitor

CNN: No job, bad mortgage – out of luck

According to CNN: “All the foreclosure prevention plans announced to date will do little to help the next wave of delinquent homeowners, who can’t make their monthly payments because they’ve lost their jobs. But something needs to be done for them, experts said, or the country will sink deeper into an economic recession.”

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