Job losses from Great Recession about to get worse

[bijou]

The Northerner  (257 posts) Click to send private message to this author  Click to view this author's profile  Click to add this author to your buddy list  Click to add this author to your Ignore list      Fri Feb-05-10 01:32 AM
Original message
Job losses from Great Recession about to get worse
   
Source: Associated Press

WASHINGTON – Job losses during the Great Recession have been huge and they're about to get bigger.

When the Labor Department releases the January unemployment report on Friday, it will also update its estimate of jobs lost in the year that ended in March 2009. The number is expected to rise by roughly 800,000, raising the number of jobs shed during the recession to around 8 million.

The new data will help illustrate the scope of the jobs crisis. Analysts think the economy might generate 1 million to 2 million jobs this year. And they say it will take at least three to four years for the job market to return to anything like normal.

"It's going to take a long time to dig out of this hole," said Julia Coronado, senior U.S. economist at BNP Paribas.

Wall Street economists expect the January report will show a tiny increase of 5,000 jobs. That would be only the second monthly gain since the recession began. But it probably wouldn't be enough to hold down the unemployment rate, which is forecast to rise to 10.1 percent. That would match October's 26-year high. And it would be the fourth-straight month of double-digit joblessness.

Read more: http://news.yahoo.com/s/ap/20100205/ap_on_bi_go_ec_fi/u...

givemebackmycountry  Donating Member  (1000+ posts)  Journal  Click to send private message to this author  Click to view this author's profile  Click to add this author to your buddy list  Click to add this author to your Ignore list      Fri Feb-05-10 01:46 AM
Response to Original message
1. It's not the "Great Recession"
   
It's the "BUSH RECESSION"

And we need to be on TV tomorrow morning, and every hour of the day, screaming that at the top of our lungs.

Better Today  Donating Member  (1000+ posts) Click to send private message to this author  Click to view this author's profile  Click to add this author to your buddy list  Click to add this author to your Ignore list      Fri Feb-05-10 03:45 AM
Response to Reply #1
11. Try "W" Depression or Bush Depression, this is only a "recession"
   
for those in the top 15% or so from what I'm seeing. It's a depression (and a depressing one at that) for most of us and our families and friends.
   

Toots  (1000+ posts) Click to send private message to this author  Click to view this author's profile  Click to add this author to your buddy list  Click to add this author to your Ignore list      Fri Feb-05-10 09:26 AM
Response to Reply #1
23. NO NO NO NO......The REPUBLICAN Recession
   
Don't let Republicans off the hook on this one.. It is not Bush*'s work but Republicans in General and they want to return to their same failed policies..

Are you seeing a theme  developing?

[Chris]

Nobody remembers Herbert Hoover. 

Watching illiterate people try to rewrite history is always funny.

[The Village Idiot]

The recession started while Democrats controlled Congress.

[Specbid]

The recession started while Democrats controlled Congress.

Needs repeating: "The recession started while Democrats controlled Congress."

And the unemployment numbers starting rising in Nov of '08...wonder what happened then?

[The Village Idiot]

That so-called Stimulus will allow the government to pretend the economy is getting better when it is really going to make the fall so much worse. Like a bubble.

2011 is going to be a nightmare.

[BlueStateSaint]

That so-called Stimulus will allow the government to pretend the economy is getting better when it is really going to make the fall so much worse. Like a bubble.

2011 is going to be a nightmare.

Ain't that the truth.  And the Dems will scream, "It's the Republicans' fault!!!!!11!!eleventy"

[The Village Idiot]

Ain't that the truth.  And the Dems will scream, "It's the Republicans' fault!!!!!11!!eleventy"

Of course it will be. heh

[ReaganForRushmore]

Obama LIHOP

Obama MIHOP

I have the chicken wire to prove that Obama caused the recession!!!

DUmmie mode off