Economists: Many More Layoffs Coming

[OhioChick]

Report Offers Grim Predictions For Next 6 Months

POSTED: 5:54 am EST January 26, 2009

WASHINGTON -- It's shaping up to be another lousy year for workers, with more companies expecting to cut payrolls in the months ahead.

That's part of the latest outlook from forecasters in a survey to be released Monday by the National Association for Business Economics that depicts the worst business conditions in the U.S. since the report's inception in 1982.

Thirty-nine percent predicted job reductions through attrition or "significant" layoffs over the next six months, up from 32 percent in the previous survey in October. Around 45 percent in the current survey anticipated no change in hiring plans, while roughly 17 percent thought hiring would increase.

The recession, which started in December 2007, and is expected to stretch into this year, has been a job killer. The economy lost 2.6 million jobs last year, the most since 1945. The unemployment rate jumped to 7.2 percent in December, the highest in 16 years, and is expected to keep climbing.

More: http://www.newsnet5.com/money/18562677/detail.html

[madrchsod]

1. 7.2% is a big fucking joke....

no one really knows how many people are really unemployed.

[OhioChick]

2. I believe we're already into double-digit unemployment. n/t

[Azlady]

3. Either Meet the Press or Dateline yesterday said....

that with the "under employed" those that have lost jobs, and are working part time, that do not show up in the unemployed records puts into double digit unemployment... I agree though the actual 7.2 for just the unemployed is WAY out of line on its own.... we need the TRUTH.....