650,000 More Jobs Reported Cut in January
The outlook for future employment figures doesn’t get much better either, with estimates that the economy could lose 1 million to 2 million more jobs in the next few months.
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February 4, 2009
650,000 More Jobs Reported Cut in January
Employers eliminated 650,000 jobs last month, bringing the total number of
job cuts in the U.S. since September to 2.3 million, according to a new report
released Wednesday, February 4, by TrimTabs Investment Research.
The latest round of cutbacks, coupled with the 683,000 jobs that were shed in
December, makes the last two months the worst period for job losses that the
Sausalito, California-based research firm has on record. TrimTabs has employment
data going back to the early 1970s.
The firm’s outlook for future employment figures doesn’t get much better
either. It estimated that the economy could lose 1 million to 2 million more
jobs in the next few months.
At the same time, TrimTabs said its data showed the national personal savings
rate remained negative and did not break into positive territory in December, as
the Washington-based Bureau of Economic Analysis recently reported.
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