Today the U.S. government labor report announced the loss of 524,000 jobs in the final month of 2008.
If we also take into account the previous two month’s figures (which have been revised upward in this latest report): “November’s job loss was revised up to 584,000 from 533,000, and October was revised up to 423,000″, then we can calculate an average of 510,333 jobs lost per month over the last three months. If we take this figure and extend it over the next 12 months, you get 6,124,000. That is over six million jobs at stake in 2009.
For those who thought 2008 was bad and the government’s announcment in Dec. ‘08 regarding the economy being in a recession are in for a harsh surprise. Six million jobs will be a lot of jobs lost. And if you consider that each person employed also has a partner and child that leaves 18,000,000 Americans without a job’s income or said differently, dependant on government support. Are you prepared to lose your job?