Report: New York to lead US cities in job losses
NEW YORK – Only five metropolitan areas in the U.S. will escape job losses this year, according to a forecast released Saturday by the U.S. Conference of Mayors.
New York is expected to take the biggest hit as thousands of jobs are lost on Wall Street. Big financial firms are slashing workers as they cope with bad debt. Other companies have gone under, like Lehman Brothers Holdings Inc., which filed for bankruptcy in September.
The New York area is expected to lose 181,000 jobs in 2009, the report said. Consulting company IHS Global Insight produced the report for the group.
The Los Angeles area is expected to see 164,000 lost jobs, in part because of the huge drop in home prices that has punctured the California economy.
After New York and Los Angeles, the Miami area is expected to see the greatest loss, with a decline of 85,000 jobs. Chicago and the surrounding area are next, with losses projected at 80,000.
Unemployment is expected to top 10 percent in 70 areas, from already hard-hit cities like Detroit and Cleveland to places that had until recently been prosperous like the Riverside-San Bernardino area in California. Other big cities like Denver and St. Louis are expected to see unemployment rise above 9 percent.
Ithaca, N.Y.; Fairbanks, Alaska; and St. George, Utah, are among the handful of the nation's 363 metropolitan areas expected to see employment remain flat or increase slightly.
I don't work in the NYC area (or Wall Street...) but it is very close to home.
That is A LOT of unemployed people!!!
I mean how are we supposed to rejoice in the CHANGE that our president-elect is promosing us when our whole country is literally falling apart slowly...
Our country is CRUMBLING and it is not good for morale.
I hope tomorrow goes well for our President and his family. Let him enjoy his "honeymoon" stage of his political career.
But let me tell you one thing: there best be changes coming. Or else we will see another depression and this one will hit harder than ever!
I just had to put my two cents in about this. Because many people around me are being affected by this poor status we are in right now. I hate talking politics, money, religion and many other topics (such as exes) but this could not be left unsaid. It is something that is happening over and over again around me and it is NOT good.
May God (or whomever it is that watches over us... *big brother*... haha) bless us until we see change that can help us ALL.