Worst Job Loss in Five Years

My colleague Mac last night posted that we were expecting a job loss report of about 105,000 jobs today.  Turns out, that was low-balling it a bit.

In truth, the Labor Department reports that 159,000 jobs were lost during the month of September, making it the single worst month of job loss in five years.  This is apparently indicative of a struggling economy even before the turmoil on Wall Street.

5 Responses to “Worst Job Loss in Five Years”

  1. tas says:

    What I don’t get is how Palinbot* and McCain can spout off about continuing Bush’s tax cuts in order to help the economy and “create new jobs” when, living under eight years of such economic policy, it’s revealed as a failure. And not just any old failure, but we’re talking historic, monumental proportions here — stock market that falls like a rock, major investment banks closing, trust that banks have for each other shrinking therefore credit is in crisis, and, oh yeah, jobs tanking, too. All of this has been under the Bush economic watch that the GOP wants to continue. How can they even advocate for such; without shame?

    * – I’d like to call Palin “Teabag”, but I have a feeling nobody would get it.

  2. Kathy says:

    You’re right in my case at least.

  3. Ivylane says:

    Despite the stats, I still see high paying jobs posted on employment sites –

    http://www.linkedin.com (networking)
    http://www.indeed.com (aggregated listings)
    http://www.realmatch.com (matches you to jobs)

    good luck to those searching jobs.

  4. Kathy says:

    Of course there are still high-paying jobs posted on employment sites, but there are hundreds or thousands of applicants for every one of them. If you don’t have every single skill or type of experience they say they want (not just require), you don’t get the job. Even if you do have everything, your chances of getting the job are not good.

    I have worked for most of my adult life in book publishing, doing editorial production work. I have spent hours upon hours on sites like Indeed.com, applying to every production editor job I can find. In many if not most cases, for a job titled production editor, I have every one, literally, of the requirements they list. I’ve been sending out resumes for jobs like that for years, and haven’t gotten even an interview, much less a job offer.

    Oh, I forgot to mention. I’m 58 years old. Yep, I certainly do qualify for those jobs, but so do thousands of men and women 30 years younger than I am.

    Just the fact that high-paying jobs can still be found listed, and even the fact that you may be qualified for those jobs, doesn’t mean you’ll get one, no matter how much time you spend looking.

    I have been either unemployed or grossly underemployed for about eight years now. I finally was offered a job a week ago, as an operator at a medical answering service. It was listed on Monster.com, and I found out about it through my job coach, whose services I have through the DVR in my state (that’s Department of Vocational Rehabilitation). I’m fortunate to qualify for DVR and to get that service at no cost, because I have a disability (major depression). Since the nature of the work is nothing related to my field, I probably would not have come across it without her help (the job coach).

  5. tas says:

    I’ve been meaning to do a post about this.. Summarized version here.

    Back in the late 90’s, I scored gigs in the computer industry with just a lonely high school diploma under my belt. Often these were entry level but I had the opportunity to advance and earn a middle class income without higher education — for a time. Also, I lived in Rhode Island but often times worked in Boston or Connecticut. We didn’t worry about the distance of our commutes back then because it was only a buck a gallon.

    Back then, I could chuck a rock out a window and hit five headhunters who had a decent paying job for me.

    But now… Gas constantly hovering in the mid $3 range, computer jobs gone.. I’m in school and waiting tables to support my student habits.

    So no, the economy isn’t good.

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