US looses 7.9 million jobs
July 2nd, 2010
Financial crisis wiped out 7.9 million jobs in US. But that’s not the worst. Most of the jobs are likely to never come back, experts say.
The government jobs report issued Friday shows that businesses have slowed their pace of hiring to a relative trickle says recent CNN report.
“The job losses during the Great Recession were so off the chart, that even though we’ve gained about 600,000 private sector jobs back, we’ve got nearly 8 million jobs to go,” said Lakshman Achuthan, managing director of Economic Cycle Research Institute.
