Monday, November 10, 2008
Jobless ranks hit 10 million, most in 25 years
Jobless ranks hit 10 million, most in 25 years - BusinessWeek: "The nation's jobless ranks zoomed past 10 million last month, the most in a quarter-century, as piles of pink slips shut factory gates and office doors to 240,000 more Americans with the holidays nearing. Politicians and economists agreed on a painful bottom line: It's only going to get worse."
Thursday, November 6, 2008
U.S. Job Losses Poised to Accelerate in October - BusinessWeek
U.S. Job Losses Poised to Accelerate in October
Lingering effects from Hurricane Ike, the strike at Boeing, and the consumer pullback should make for a bleak October U.S. jobs report
The October U.S. employment report, scheduled for release Nov. 7, should prove the worst one yet for the current downturn, and will set the stage for the degree of weakness the markets should expect for the remaining October economic reports.
Tuesday, November 4, 2008
U.S. Factory Index Declines to 26-Year Low
Bloomberg.com: Worldwide: Manufacturing in the U.S. contracted in October at the fastest pace in 26 years. The U.S. purchasing managers' gauge of new orders for factories decreased to the lowest level since 1980. Job losses accelerated, today's report also showed. Employers have cut more than three-quarters of a million jobs so far this year, and economists predict the Labor Department in four days will report that the unemployment rate climbed to 6.3 percent in October, matching the highest level since 1994.
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