- Poruka
- 218
http://www.nytimes.com/2008/12/06/business/economy/06jobs.html?em
The nation’s employers cut 533,000 jobs in November, the Bureau of Labor Statistics reported Friday.
Not since December 1974, toward the end of a severe recession, have so many jobs disappeared in a single month — and the current recession, far from ending, appears to be just gathering steam.
“We are caught in a downward spiral in which employment, incomes and spending are collapsing together,” said Nigel Gault, chief domestic economist for IHS Global Insight. “With private spending frozen, we have no choice but to rely on a stimulus package to revive the economy.”
The nation’s employers cut 533,000 jobs in November, the Bureau of Labor Statistics reported Friday.
Not since December 1974, toward the end of a severe recession, have so many jobs disappeared in a single month — and the current recession, far from ending, appears to be just gathering steam.
“We are caught in a downward spiral in which employment, incomes and spending are collapsing together,” said Nigel Gault, chief domestic economist for IHS Global Insight. “With private spending frozen, we have no choice but to rely on a stimulus package to revive the economy.”
