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1 million more job losses in 2009?

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If we're lucky. Looking at the right wing economic team coming in it's hard to see how they're going to do an about face on everything they've stood for and change paths. Obama hired this team so obviously this is what he believes as well. Heaven help us all.

The labor market faces persistent weakness in 2009, with more than 1 million jobs cuts expected due to weak spending among consumers and businesses, according to a Monday report from Challenger, Gray & Christmas Inc.

The incoming administration is working on a massive economic stimulus package to save or create millions of jobs. But it will take time for the stimulus measure to work, said John Challenger, chief executive of the outplacement firm.

"Even if the measures work, it could take several more months for consumers and corporate America to regain confidence and begin spending again," he said.

The firm expects that healthy employment growth, associated with an expanding economy, may not start until 2013. Since the recession began in December 2007, almost 2 million jobs have been lost, according to the government.
If nothing else, this recession will force people to step back and reevaluate what "healthy" really means. Unrealistic quarterly growth expectations - led by Wall Street - have also been contributing factors in this decline and the 3 month thinking needs to be modernized.

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