NEW YORK (CNNMoney.com) -- The hemorrhaging of American jobs accelerated at a record pace at the end of 2008, bringing the year's total job losses to 2.6 million or the highest level in more than six decades.
A sobering U.S. Labor Department jobs report Friday showed the economy lost 524,000 jobs in December and 1.9 million in the year's final four months, after the credit crisis began in September.
The steep annual drop in jobs marked the highest yearly job-loss total since 1945, the year in which World War II ended.
November, in which 584,000 jobs were lost, and December marked the first time in the 70-year history of the report in which the economy lost more than 500,000 jobs in consecutive months.
Construction employment shrank further by 101,000 jobs, and the rate of construction unemployment soared to 15.3% - by far the highest of any group.
New-home construction plunged to an all-time low in December, capping the worst year for builders on records dating back to 1959.
I'm not looking for sympathy. It's not self-pity that prompts me to write this, it's because I'm sick and tired of hearing people minimalize the state of the economy. I know it has ebbed and flowed throughout history, I know it will eventually improve, but for here and now, for a lot of us, it sucks.
Now that I've got that off my chest, in the words of Clark W. Griswold,
"Hallelujah. Holy shit. Where's the Tylenol?"
3 comments:
:( i dont like this blog
Erin, I can totally relate. Matt's company is struggling for work, they have had to lay several people off. My hours at work are so sporadic. Things are just really bad right now, and it's hard to have a positive attitude.
I so get were you're coming from, I really do....
{{HUGS}}
Post a Comment