Deepening Cycle of Job Loss Seen Lasting Into ’09


	Deepening Cycle of Job Loss Seen Lasting Into ’09

JICWyllie

7-2-2008 6:49 AM

149 views

tags:

economy, consumers, i-unemployment, i-increase

Add a Comment

Login to Comment. Not a member yet? Sign up

View the Top Clips from July 2, 2008

Embed This Clip In Your Site...

<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/f290bc7f-4104-400f-9eab-3cd5bc7ed311/37F8FAD7-EE19-4359-BD9C-11DBE54AAEA2/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.nytimes.com/2008/07/02/business/02jobs.html?_r=1&th&emc=th&oref=login" href="http://www.nytimes.com/2008/07/02/business/02jobs.html?_r=1&th&emc=th&oref=login" style="font-size: 11px;">www.nytimes.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2008/07/02/business/02jobs.html?_r=1&th&emc=th&oref=login">As automakers dropped their latest batch of awful sales numbers on the market on Tuesday, reinforcing the gloom spreading  across the economy, the troubles confronting American workers seemed to intensify.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2008/07/02/business/02jobs.html?_r=1&th&emc=th&oref=login">Plummeting home prices have in recent months eliminated jobs for hundreds of thousands of people, from bankers and real estate agents to construction workers and furniture manufacturers. </blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2008/07/02/business/02jobs.html?_r=1&th&emc=th&oref=login">Joblessness has accelerated, and employers have slashed working hours even for those on their payrolls, </blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2008/07/02/business/02jobs.html?_r=1&th&emc=th&oref=login">Now, add to that unsavory mix the word from automakers that sales plunged in June — by 28 percent for <A title="More information about Ford Motor Company" href="http://topics.nytimes.com/top/news/business/companies/ford_motor_company/index.html?inline=nyt-org">Ford</A>,  21 percent for <A title="More information about TOYOTA MOTOR Corporation" href="http://topics.nytimes.com/top/news/business/companies/toyota_motor_corporation/index.html?inline=nyt-org">Toyota</A> and 18 percent for <A title="More information about General Motors Corp" href="http://topics.nytimes.com/top/news/business/companies/general_motors_corporation/index.html?inline=nyt-org">General Motors</A> —  a sharp sign that consumers are pulling back, making manufacturers more likely to cut  production and impose more layoffs.    </blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2008/07/02/business/02jobs.html?_r=1&th&emc=th&oref=login">Until recently, the weak labor market has been marked more by the reluctance of employers to create new jobs than by mass layoffs.</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/37F8FAD7-EE19-4359-BD9C-11DBE54AAEA2/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

Clipmarks: Home; New Clips; Top Clips; Dashboard

Popular Topics: News; Life; Science; Technology; Entertainment

Get Started: Sign Up; Install Clipping Tool; How Clipping Works; Clip-to-Blog™; ClipSearch

Tools and Resources: FAQ; ClipWeek; Top Clippers; Top Tags; Site Map

About Clipmarks: About Us; Contact; Blog; Copyright; Privacy; EULA

Search Options

Related Clips

More clips from JICWyllie

Today's Top Clips