693,000 jobs lost in December

[w¡n9Nµ7 §£@¥€r 123]

WASHINGTON (MarketWatch) -- U.S. private-sector firms shed 693,000 jobs in December, far worse than expected, according to the ADP employment index released Wednesday.

Employment in the services sector fell by 473,000, while employment in the goods-producing sectors fell by 220,000.

Large firms cut 91,000 jobs, medium-sized firms cut 321,000 jobs and small firms cut 281,000 jobs.

"Sharply falling employment at medium- and small-size businesses clearly indicates that the recession has now spread well beyond manufacturing and housing-related activities," said economists for Macroeconomics Advisers in a press release.

The index is computed by Macroeconomic Advisers using anonymous payroll data collected by ADP.

http://www.marketwatch.com/News/Story/Stor...printMidSection

[Jasman0717 8]

Damn From what the reports are showing, it is only going to get worse.

[mawilson 2,133]

Acting CBO (Congressional Budget Office) director Robert Sunshine said the economy would contract

2.2 per cent in 2009; unemployment would peak at 9.2 per cent in 2010; house prices would fall

another 14 per cent; and the economy would not return to its potential output until 2015.

Sunshine, eh?

[Jasman0717 8]

Acting CBO (Congressional Budget Office) director Robert Sunshine said the economy would contract

2.2 per cent in 2009; unemployment would peak at 9.2 per cent in 2010; house prices would fall

another 14 per cent; and the economy would not return to its potential output until 2015.

Sunshine, eh?

Oh brother, so much for my equity buying me a place in Colorado in 6 years