Well-paid professionals like lawyers, accountants and architects are joining the rapidly expanding unemployment rolls in New York City, as the effects of the financial crisis have spread beyond Wall Street not only to other white-collar industries but also to the construction and retail trades, a new report shows.
New York Times reports.
Dec 5, 2008 – The top 3 numbers that headlined news worldwide – 533,000 jobs lost, 6.7% unemployment rate, worst since 1974
”‘We have gone from recession into something that looks more like collapse,’ said Ian Shepherdson, chief domestic economist at High Frequency Economics, referring to the accelerating job losses in recent months.“
- Read New York Times article on http://www.nytimes.com/2008/12/06/business/economy/06jobs.html
“The U.S. government reported Friday that nonfarm payrolls were cut by a staggering 533,000 in November, exceeding even the pessimistic projections, while the unemployment rate hit 6.7%, which was slightly lower than expected. The figures appear to confirm the magnitude of the recession under way.“
- Read Forbes article on http://www.forbes.com/business/2008/12/05/government-unemployment-payroll-markets-econ-cx_md_1205markets10.html
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