More than 500,000 U.S. jobs lost in one week
<!-- InstanceEndEditable --><SCRIPT><!--function getText(el) { if (el.nodeType == 3) return el.nodeValue; var txt = new Array(),i=0; while(el.childNodes) { txt[txt.length] = getText(el.childNodes); i++; } return txt.join("");}mText = getText(document.getElementById("hdr_title"));document.title = mText;//--></SCRIPT><!-- InstanceBeginEditable name="Body" -->More than half a million workers in America lost their jobs this past week according to the latest unemployment report from the government.
It’s the fastest rise in joblessness since the Sept. 11 terrorist attacks seven years ago. And the total number of people on benefit rolls jumped to the highest level since 1983, according to Bloomberg.
The New York Times reported that the new figures are likely to push the U.S. unemployment rate from its current level of 6.5 percent to 7 percent by January 2009.
Consumer spending accounts for more than two-thirds of the economy and is affected by rising joblessness. A protracted downturn could result, economists said. http://www.landlinemag.com/todays_news/Daily/2008/Nov08/111008/111308-05.htm
<!-- InstanceEndEditable --><SCRIPT><!--function getText(el) { if (el.nodeType == 3) return el.nodeValue; var txt = new Array(),i=0; while(el.childNodes) { txt[txt.length] = getText(el.childNodes); i++; } return txt.join("");}mText = getText(document.getElementById("hdr_title"));document.title = mText;//--></SCRIPT><!-- InstanceBeginEditable name="Body" -->More than half a million workers in America lost their jobs this past week according to the latest unemployment report from the government.
It’s the fastest rise in joblessness since the Sept. 11 terrorist attacks seven years ago. And the total number of people on benefit rolls jumped to the highest level since 1983, according to Bloomberg.
The New York Times reported that the new figures are likely to push the U.S. unemployment rate from its current level of 6.5 percent to 7 percent by January 2009.
Consumer spending accounts for more than two-thirds of the economy and is affected by rising joblessness. A protracted downturn could result, economists said. http://www.landlinemag.com/todays_news/Daily/2008/Nov08/111008/111308-05.htm
ope: :nohead: :missingte :missingte 
hno: 
up because 1. there is no consumer confidence now, which is all on conan's friend george bush's shoulder. 2. no demand for the supply. why the hell employ 100,000 people when i'm losing 32 percent of my sales like GM says, get rid of half the force. 3. horrible management, outdated concepts, facilities. the product and the people behind it are not competent enough to adapt there product to what would be considered hard times for the majority of the country. the American automakers refuse to put out efficient cars that have good mpg. They don't have the technology and didn't have the foresight to see what was coming at them before it was too late. That's where you can tell the good from the bad. The good were prepared 2 years ago for this. The bad are like the deer in the headlight, just waiting for the oncoming hit.
