2009 Predictions: U.S. Economy – Job Loss

 The following predictions were posted on my website www.williamstickevers.com earlier this year, on January 10, 2009.  Statistics from Associated Press were added on April 3, 2009.

Economy: Job Loss

  • Job losses in the U.S. will continue this year with the official jobless rate to exceed to 8.2 percent by the end of 2009. (Jan. 10, 2009)
    NOTE: WASHINGTON (AP) — The nation’s unemployment rate jumped to 8.5 percent in March, the highest since late 1983, as a wide swath of employers eliminated 663,000 jobs. It’s fresh evidence of the toll the recession has inflicted on America’s workers, and economists say there’s no relief in sight. If part-time and discouraged workers are factored in, the unemployment rate would have been 15.6 percent in March, the highest on records dating to 1994, according to Labor Department data released Friday. The average work week in March dropped to 33.2 hours, a new record low. Since the recession began in December 2007, the economy has lost a net total of 5.1 million jobs, with almost two-thirds of the losses occurring in the last five months. (April 03, 2009) 
  • Consumer confidence will continue to decline due to large scale layoffs, job insecurity, and deteriorating markets for housing. (Jan. 10, 2009)    
  • The “under-employed” will become the new household word in 2009 as millions of discouraged American workers that have reluctantly taken part-time work because they’ve stopped looking for full-time jobs. (Jan. 10, 2009)    
  • According to reports out of Washington, Americans suffered a net loss of 2.4 million jobs during 2008. By the end of the 2009, we can expect an additional net loss of 2.6-3.5 million jobs. (Jan. 10, 2009)    
  • Riots will take place in some parts of the United States where unemployment levels are particularly high and the economic disparity between the rich and poor increases. (Jan. 10, 2009)    
  • The Rasmussen Employment Index, a monthly measure of U.S. worker confidence in the employment market, will fall to an all time record low by the end of 2009. (Jan. 10, 2009)

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