6.9 Americans have now lost their jobs since the downturn began in late 2007.
Unemployment in the United States has hit a 26-year high, with 9.7% of the workforce out of a job, official figures showed today - though the pace of layoffs slowed in August, raising hopes that the worst of the recession is over.

American businesses cut 216,000 staff last month, according to the closely-watched non-farm payrolls figures, released today by the labour department. That was the lowest number of job losses in a year: in January, almost three quarters of a million people were put out of work in a single month.

In total, 6.9 million Americans have now lost their jobs since the downturn began in late 2007.

In August, the heaviest toll came in the crisis-hit construction sector, where 65,000 people lost their jobs; while manufacturers laid off 63,000 staff.

The slowdown in the pace of job losses boosted hopes that the US economy is finally on the mend. President Barack Obama is under intense pressure to show that a turnaround is underway, after battling to win approval for his $800bn (£490bn) fiscal stimulus package.

"Although the job losses continued in major industry sectors in August, the declines have moderated in recent months," the the labour department said.

However, some economists warned that US firms need to start creating more jobs in the coming months if a long-term recovery is to get underway.

John Canally, an analyst at LPL Financial in Boston, said, "the tension between now and the end of the year lies in the question of whether, after the support provided by the government's stimulus package, the private sector can stop shedding jobs in time to help the economy stay on a sustainable recovery."

Dominique Strauss-Kahn, managing director of the International Monetary Fund, used a speech in Berlin today to warn that the global economic crisis has moved into a third wave - from finance, to the real economy, to unemployment.

"We expect unemployment to continue rising through next year, as economic growth falls short of potential. And a jobless recovery remains a risk," Strauss-Kahn said. "Having so many people out of work has significant economic costs, ranging from lower private demand to a decline in potential growth if structural unemployment rises. The social consequences are potentially even more worrisome."

Views: 34

Replies to This Discussion

Actually worst than 9 % in many states they have hit 14% or higher.

Gonna be hard for many families

RSS

"Destroying the New World Order"

TOP CONTENT THIS WEEK

THANK YOU FOR SUPPORTING THE SITE!

mobile page

12160.info/m

12160 Administrators

 

Latest Activity

tjdavis posted a video
10 hours ago
Burbia replied to Burbia's discussion Trump Receives Marching Orders
17 hours ago
Less Prone favorited Burbia's video
yesterday
Less Prone replied to Burbia's discussion Trump Receives Marching Orders
"Bullets can be effective in reinforcing ownership."
yesterday
Burbia posted a discussion

Trump Receives Marching Orders

Netanyahu has made 3 visits to the White house since Trump's second term as President of the United…See More
yesterday
Burbia commented on Burbia's video
Thumbnail

Ben Shapiro Just LOST HIS MIND — There's No Coming Back From This

"Omg. The Ben Shapiro voice that Luke is imitating here couldn't be any more comedic to…"
yesterday
Burbia posted a video

Ben Shapiro Just LOST HIS MIND — There's No Coming Back From This

Get the magnesium your body needs - https://wearechange.shop/product/magnesium-glycinate/Ben Shapiro Just LOST HIS MIND — There's No Coming Back From ThisHig...
yesterday
cheeki kea posted photos
Tuesday
Doc Vega posted blog posts
Monday
Burbia posted a video

A few reasons I don’t like jews. It’s not complicated.

These are the reasons I became antisemitic. It’s not complicated. Sure, I could go on for days, weeks, months outlining everything, but I don’t need to. This...
Monday
Doc Vega commented on Doc Vega's blog post Unusual Discoveries and Headlines
"Less Prone, Thanks Buddy! I'd like to volunteer as a historical reconstructionist! "
Sunday
Less Prone left a comment for t.me/TheIntelligenceLibrary
"Welcome to a revolutionary concept in public communication, the truth."
Sunday
pohonemas33 team is now a member of 12160 Social Network
Sunday
Less Prone favorited cheeki kea's discussion Tartaria
Sunday
tjdavis's 2 blog posts were featured
Sunday
Doc Vega's 7 blog posts were featured
Sunday
Less Prone commented on Doc Vega's blog post Unusual Discoveries and Headlines
"Some incredible pieces of history!"
Sunday
Less Prone favorited Doc Vega's blog post Unusual Discoveries and Headlines
Sunday
tjdavis posted a blog post
Sunday
Doc Vega posted a blog post

First Week of July 1947 an Inflexion Point for Humanity!

The year is 1947 and sometime around July 4th the anniversary of the birth our nation, when a…See More
Saturday

© 2025   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2019 - all rights reserved. unless otherwise noted