Friday, 9 January 2009

The US recession deepens

The US economy lost jobs every month last year. By December, over 2.5 million jobs had disappeared on a net basis. Furthermore, the number of aggregate hours worked in December fell 0.2 hours to 33.3 hours, the lowest level since records began in 1964.

The US employment rate is now 7.2 percent.


Anonymous said...

The employment fall out accelerates after Lehman. Very interesting.

AntiCitizenOne said...

Jobs are a cost.
In a recession you get rid of costs.

Not a surprise.

mike said...

It's time for the big US dollar sell off and sterling will benefit.