SubscribeAll Posts Tagged With: "job loss"
Employment Report on Friday May Be Biggest Monthly Job Loss in 60 Years
When the Labor Department releases February’s U.S. employment numbers on Friday, economists are expecting to see the largest one-month job loss in nearly 60 years. With consumer spending in a freefall and factory output continuing to plunge, U.S. companies are idling plants, slashing extra workers and cutting back on the hours of those that remain, MarketWatch.com reported.
“Pink slips continue to fly,” said Meny Grauman, an economist for CIBC World Markets (CM).
The first week of the new month (March) brings two of the most important economic indicators: The ISM index and the nonfarm payrolls report. Both are expected to be quite grim.
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3Mar2009 | Money Morning | 0 comments | ContinuedStocks Fall as ADP Report Says U.S. Shed 693,000 Jobs in December
The U.S. economy shed 693,000 jobs in December, a showing that was far worse than economists had expected and that may even have been the biggest monthly loss of jobs in more than 30 years, analysts said of a closely watched survey of business employment released yesterday (Tuesday).
The monthly ADP Employer Services (ADP) survey – which tracks private non-farm payroll employment – stunned economists, showing a surprising increase from the 476,000 jobs lost in November.
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The decline was the worst…
8Jan2009 | Money Morning | 0 comments | Continued
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