Job Cuts, Factory Slump Probably Worsened

The recession engulfing the U.S. economy deepened this month as employers slashed more jobs and manufacturing contracted at the fastest pace in a quarter century, economists said before reports this week.

Payrolls shrank by 320,000 workers in November, the biggest one-month drop since the 2001 terrorist attacks, according to the median estimate of economists surveyed by Bloomberg News before the Labor Department’s Dec. 5 report. The jobless rate ... Full Story »

Posted by Leo Romero
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Subjects: U.S., Business
Topics: U.S. Economy
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Posted by: Posted by Leo Romero - Nov 30, 2008 - 8:57 AM PST
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Edited by: Leo Romero - Nov 30, 2008 - 8:57 AM PST
Fabrice Florin
3.3
by Fabrice Florin - Nov. 30, 2008

Intersting overview of the latest economic indicators on the U.S. economy. While this short report is factual, it doesn't provide much context or diverse perspectives to make sense of this growing crisis.

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William Hughes-Games
5.0
by William Hughes-Games - Nov. 30, 2008

Good to have some accurate statistics to get a feel for what is actually happening while people like real estate agents do their best to talk us out of a depression and predict all will be well in 6 months. Talk about cloud coucou land.

This comment will not be popular with people who have been laid off but there may be a silver lining in all of this. Our level of tree cutting, water use, fossil fuel burning etc. and production of pollution and garbage is undoubtedly going down with the economy. This may just give us the necessary breathing space to stop the trashing of the very environment that gives us many of our needs for free. If we do crash the enviroment, we will look back on this present little blip in ... More »

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Peter L. Combs
3.3
by Peter L. Combs - Nov. 30, 2008

A good update for anyone who hasn't been paying attention to the surface gyrations on the market. It could have been a bit longer and perhaps given some opinions on remedies other than more bailouts. All factually accurate.

The ailments of the American markets will need more than stimulus money. Americans need to get back to making things, rewrite NAFTA to create equilibrium with benefits to the US economy as well as our trading partners.

“All signals point to a very weak labor market and further weakening,” said Dean Maki, co-head of U.S. economic research at Barclays Capital Inc. in New York. “We ... More »

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Leo Romero
3.0
by Leo Romero - Nov. 30, 2008
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Kenneth Sibbett
5.0
by Kenneth Sibbett - Nov. 30, 2008

He wrote it like it. Terrible.

The news is full of people saying there's only one president, but Obama's doing the right thing getting his own people in place and working with Bush's people to gets Obama'a policies in place because either way you look at it, this is a long term fix that Bush and his cronies have left to to the American people.

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Tony Lee
4.7
by Tony Lee - Nov. 30, 2008

As a member of the manufacturing industry, this report seems to be spot on with sharp decline in orders and increasing lay-offs. We can only hope it will get better...

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