WASHINGTON — Cost-cutting employers are resorting to even bigger layoffs as they scramble to survive the recession, feeding insecurities among those who still have jobs and those who desperately want them.
The Labor Department on Friday is slated to release a report expected to show that February was an especially cruel month for America's workers.
Employers likely slashed a net total of 648,000 jobs last month, according to economists' forecasts. If they are right, it would mark the worst month of job losses since the recession started in December 2007. It also would
represent the single biggest month of job reductions since October 1949, when the country was just pulling out of a painful recession, although the labor force has grown significantly since then
"The pace of layoffs is fast and furious," said Stuart Hoffman, chief economist at PNC Financial Services Group. "We're still in the teeth of this recession and the bite has not let up at all."
With employers slashing payrolls, the nation's unemployment rate is expected to jump to 7.9 percent, from 7.6 percent in January. If that happens, it would mark the highest jobless rate since reaching 8 percent in January
1984, a time when the unemployment rate was still slowly moving down after having topped 10 percent during the early 1980s recession.........
Some 3.6 million jobs have disappeared so far in a deepening recession, which is shaping up as the biggest job killer in the post-World War II period.
http://www.comcast.net/articles/finance/20090305/Economy/Yet the Republican party takes their marching orders from Rush and have become the party of F#*k You to the American Worker.
What will you do Rush when your listeners can't tune in from the cardboard box that has become their new home?
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