Business Spectator - US Dec payrolls fall 524,000, jobless rate 7.2%
The latest drop in the share market was caused by very negative employment data in the United States. More than half a million jobs was lost in December 2008. In the year 2008 a total of 2.6 million jobs has disappeared. This is the largest decline after 1945 when 2.75 million jobs evaporated. Have in mind that 1945 saw the end of the second World War and the demand for high industrial production was gone.
The prospects in the near future are not expected to get better. Hiring is not expected to increase in the following three months.
The latest drop in the share market was caused by very negative employment data in the United States. More than half a million jobs was lost in December 2008. In the year 2008 a total of 2.6 million jobs has disappeared. This is the largest decline after 1945 when 2.75 million jobs evaporated. Have in mind that 1945 saw the end of the second World War and the demand for high industrial production was gone.
The prospects in the near future are not expected to get better. Hiring is not expected to increase in the following three months.
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