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Job losses likely to have slowed in Nov.

Marketplace Staff Dec 4, 2009
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Job losses likely to have slowed in Nov.

Marketplace Staff Dec 4, 2009
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TEXT OF STORY

Steve Chiotakis: It seems like everyone, from the president on down is thinking about the nation’s unemployment. And we’ll get the lowdown of how things are in just a few hours when the Labor Department releases its November employment report. Economists say job losses probably slowed last month. But the key word continues to be “losses.” Marketplace New York bureau chief Amy Scott reports.


Amy Scott: Economists say employers probably cut around 130,000 jobs last month. That would be the smallest decline since July of last year. They say the unemployment rate probably held at 10.2 percent. With more than 27 million people now unemployed or underemployed, economists say the rate will likely stay high for years.

At a White House forum yesterday, the Obama administration brainstormed ideas for job creation with business and labor leaders. One idea is a Cash-for-Clunkers-style program that encourages people to make their homes more energy-efficient.

President Obama is expected to offer some specific suggestions in a speech on the economy next week. Meanwhile Democrats in Congress are pushing new jobs programs funded by money left over by the bank bailout.

In New York, I’m Amy Scott for Marketplace.

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