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.

What Now?  How to Cope with Financial Meltdown After You’ve Lost Your Job

It makes no difference if we’re expecting to become a casualty of the recession or if we’re blindsided when the boss announces lay-offs and you discover yours is one of the positions cut; the fact is, it’s overwhelming and more than a little frightening.  Suddenly, we’re losing sleep and wondering how we’re going to make the mortgage payments.  Before you go into full-panic mode, keep reading for focused ideas on how to turn that melt-down to an upward climb. Read the rest of this entry »