Posted on 08/19/2010 3:30:45 PM PDT by NormsRevenge
WASHINGTON – Layoffs are back, and that's bad news for the fragile economic recovery.
New applications for unemployment benefits hit a nine-month high last week — a spike that suggests private employers may shed jobs this month for the first time this year.
Workers are losing construction jobs in Georgia and manufacturing jobs in Indiana. Some of the layoffs are coming as stimulus money dries up and public works projects come to a halt. Government employees are being let go, too, as states and cities grapple with budget crises.
Without more jobs, consumers will not feel secure enough to spend much money, further slowing the economy. The grim outlook has economists lowering their estimates for growth in the second half of the year. And on Thursday it led to a sell-off on Wall Street led by investors worried that the United States could tumble back into recession.
"Today's news on the economy has been nothing but awful," Paul Ashworth, an economist at Capital Economics, wrote in a note to clients. "The recovery is clearly slowing."
(Excerpt) Read more at news.yahoo.com ...
so, what, like the public union guys might get their first taste of the recession some of have been choking on for the last 18 months?
I think we’re gonna need a bigger boat.
You can bet your last dollar that the bum and cult will do their best to do as much damage as possible if they see they’re losing.
Nor will they help any recovery after the loss.
We’ll see every imaginable hostile crap just as before, Socialists are not capable of standing up for our country, as we have seen the last several years. More so in the last year.
There agenda is to break this country down to where it can’t be saved.
I think we’re gonna need a bigger boat.
Yep!
Soooo now we’re down to the “fragile recovery”. What’s next, “ghost of a recovery”...”recovery in the ICU”?
These economists bringing us bad news need to be investigated.
My company just added 18 layoffs for next weeks number.
...I’m sure they’ll renew...
I think we’ve stumbled onto Obama’s new plan!
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