More Job Losses Expected

By: AP
By: AP

More job losses expected

WASHINGTON (AP) - Economists are expecting more U.S. job losses
in the coming months on top of the 80,000 that were cut last month.
Mark Zandi of Moody's Economy.com says businesses are "getting
nervous and pulling back." Analysts expect the jobless rate to
peak around six percent early next year. They say as many as two
million people could lose their jobs in a recession that may have
already begun.
Construction workers, real-estate agents and auto workers could
be among those hardest hit. School and medical jobs should be
safer.
Hiring is also expected to hold up in areas where people spend
no matter how the economy is doing: places like grocery stores, gas
stations and repair shops.
But because people may put off things like vacations, various
segments of the tourism industry, including hotels and restaurants,
could suffer.

(Copyright 2008 by The Associated Press. All Rights Reserved.)


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