This is only the beginning, because when the major car manufacturers, General Motors, Chrysler and Ford, fall then there will be a perpetual decrease
in jobs in various departments. As of now, U.S. car manufacturers are pleading for a $25 billion bailout which will probably end up as $500 billion.
One reason why the economy is still going is because consumers in both China and U.S. are increasing their intake of products. Exports to China
and the U.S. have not dropped too dramatically yet.
Here in Florida, people are waiting in line to be a service clerk at convenience stores. Teachers are being sent off to find jobs else where.
There are no longer sources of revenue for Florida other than Disney.
www.reuters.com
(visit the link for the full news article)
Jobs data miserable, regional factories slump, page 1
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Topic started on 20-11-2008 @ 05:23 PM by die_another_day
www.reuters.com
Jobs data miserable, regional factories slump
www.reuters.com
The number of U.S. workers filing new claims for jobless benefits jumped last week to their highest level in 16 years, Labor Department data showed, suggesting next month's jobs data will add to the 1.2 million jobs already eliminated this year.(visit the link for the full news article)
"No rest for the weary," said Carl Lantz, U.S. interest rate strategist at Credit Suisse in New York.
"It looks like we'll have another ugly payroll number in December."
Worse yet, the number of workers remaining on jobless benefits, or continuing claims, were the highest since December 1982, rising to 4.012 million in the week ended November 8, the latest data available, from 3.903 million the prior week.
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