Pale Rider
04-07-2008, 03:15 AM
Job Winners And Losers In Hard Times
By MARTIN CRUTSINGER, AP Economics Writer
12 minutes ago
WASHINGTON - Hospitals, schools and the assembly line at an airplane factory look like pretty good places to be with a recession looming and unemployment rising. Construction workers, real estate agents and auto workers aren't expected to fare as well.
The startling news that the economy lost 80,000 jobs last month and nearly a quarter-million over the last three months is the starkest signal yet that the country has probably fallen into a recession, with things on the job front expected to get worse.
"All the indicators suggest that we will see even larger job declines in coming months. Businesses are getting nervous and pulling back," said Mark Zandi, chief economist at Moody's Economy.com.
While the downturn is expected to be short and mild, economists are still forecasting the unemployment rate, which jumped to 5.1 percent in March, will climb much higher before the nation's job engine sputters back to life.
Economists are forecasting a jobless rate that will peak at around 6 percent, but probably not until early next year, several months after the recession is expected to end. Analysts said as many as 2 million people could lose their jobs in the current downturn.
Article continues here... (http://news.yahoo.com/s/ap/20080407/ap_on_bi_ge/recession_jobs;_ylt=Ah.mIswpG9ivBHT9C2_7fksE1vAI)
By MARTIN CRUTSINGER, AP Economics Writer
12 minutes ago
WASHINGTON - Hospitals, schools and the assembly line at an airplane factory look like pretty good places to be with a recession looming and unemployment rising. Construction workers, real estate agents and auto workers aren't expected to fare as well.
The startling news that the economy lost 80,000 jobs last month and nearly a quarter-million over the last three months is the starkest signal yet that the country has probably fallen into a recession, with things on the job front expected to get worse.
"All the indicators suggest that we will see even larger job declines in coming months. Businesses are getting nervous and pulling back," said Mark Zandi, chief economist at Moody's Economy.com.
While the downturn is expected to be short and mild, economists are still forecasting the unemployment rate, which jumped to 5.1 percent in March, will climb much higher before the nation's job engine sputters back to life.
Economists are forecasting a jobless rate that will peak at around 6 percent, but probably not until early next year, several months after the recession is expected to end. Analysts said as many as 2 million people could lose their jobs in the current downturn.
Article continues here... (http://news.yahoo.com/s/ap/20080407/ap_on_bi_ge/recession_jobs;_ylt=Ah.mIswpG9ivBHT9C2_7fksE1vAI)