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US Job Losses Mounting

Executive Summary - In the month of November the USA lost another 533,000 jobs, bringing the total to 1.9 million jobs lost this year. The unemployment rate was 6.7%, the highest it ahs been since October 1993. September, October and November job losses were a total of 1.3 million, which is the highest three-month job loss figure since world war two.

In one-day alone (Thursday 12/04/08) job losses were announced by: Avis, Credit Suisse, Viacom, AT&T, and Dupont totaling 23,000 lost positions. Citi announced job cuts of 50,000 earlier in the week. If the automakers do not get their bailout it is expected that the impact will be 2.3 million lost jobs.

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*Offshore Legal Associates Law Firm.We have no legal ties or associations with any other law firm or corporation with similar or like sounding names anywhere and should not be so confused with any other entity having a similar or like sounding name.