America Job losses

500,000 jobs lost in US as recession spreads

The US goverment data shows that US employers axed more than 500,000 payroll jobs last month, the most in 34 years. The job losses are much worse than analysts had expected. Service providing businesses accounted for two-thirds of overall job declines in November. 1.9 million jobs have been lost this year so far, 1.2 million in the past three months alone. President-elect Barack Obama has promised to introduce a massive new fiscal stimulus package after he takes office January 20 to help create 2.5 million jobs. Meanwhile the Mortgage Bankers Association says a record one in 10 American homeowners with a mortgage were either at least a month behind on their payments or in foreclosure at the end of September.


Is a depression very close???

Scary times maybe ahead. I can only hope all you guys here are ok and prepared.
I have feelings that things are gonna get a lot worse here next year so hope people get prepared now/soon....

Hi dangermouse. I've been pretty quiet on these forums, mostly reading what others say, but I guess I really should get to know you guys. As an American, I just wanted to thank you for keeping everyone up on the news coming from America. I actually look forward to reading your news bits and seeing what you have to say about what's going on outside of the UK. If there is anything you have questions about, please feel free to ask, and I will do my best to answer you.

As far as this news goes, I agree with you that this is very scary. Very scary indeed. I work in the service industry here as a coffee salesman, and for now my job is still there, but if things go down hill, one never knows. I hope that our new president can get us out of this mess, but to be honest, I think this is one that all governments need to work together to solve. This isn't just affecting America. I think our economies are more tied together than people think.

Again, thanks for keeping everyone informed, and I'll try harder to be a part of this forum.

Solomon

I'm currently unemployed and finding it really difficult to find work even the job agencies around here are beginning to dry up and the jobs night in the local paper is a bloody joke. Robba and egg can probably vouch for that if they buy the sentinel

Soz to hear that mate...

I really hope things turn around soon.

You know who I blame as well as the rest of the world those stupid, insane fucking bankers taking so many fucking gambles with money that didn't belong to them. One of my friends is a property developer and he saw this coming way back in about 2002 he was smart and sold all his houses he had about 70 on the books and he is now living the life of riley bastard.

But anyhoo more game time for me!

Sorry to hear that Neil. I hope things get better for you. No wonder you busted butt through Fallout 3! I didn't realize you hadn't been working. Did the season end for that job you had at the park?

Yep about three weeks ago gonna have to sign on soon as well, my savings are beginnig to dwindle now and my car needs to go into be repaired, bloody thing.

Robba and egg can probably vouch for that if they buy the sentinel

I can m8,no job is safe these days of doom and gloom - i thought a company the size of Royal Mail would be a job for life but alas 23 years in and i face possibility of part time or redundancy come next March