Business news online

Unemployment in the U.S. rose to the level of 1945

The U.S. economy lost more jobs than all the years after World War II. Dismissals have gone on to all industries ranging from construction, automotive, and ending with banks and the retailer. Such data can be represented in the government report to be released in coming weeks.

Number of jobs fell in December to 500 thousand, a yoy increase in unemployment has left 2.4 million jobs that a record since 1945, according to the average estimates of economists interviewed by Bloomberg agency in anticipation of the publication of data from the Ministry of Labor on January 9. Growth rates of unemployment are likely to have grown to record levels since 1993.

Data underlined the urgency of the plan to elect the U.S. president Barack Obama to stimulate the economy, which should create new jobs and cope with the recession – the longest for the past 25 years. Other reports may show the drop in sales in real estate, manufacturing and services, aggravating the end of 2008, and stressing the prerequisites for further easing in 2009.

«We continue to lose huge numbers of jobs», – said Michael Feroli (Michael Feroli), economist of JPMorgan Chase & Co. According to him, the negative effects of a recession will continue its influence on the economy, regardless of the policy of the authorities.

Unemployment will grow, on a preliminary forecast by 7% in December, compared with growth of 6.7% a month earlier.

Industrial manufacturers show in December, reducing 103 thousand people. Factories, which account for 12% of the U.S. economy, slowed production record pace in 28 years, as new orders for the production of cars and furniture, reached its lowest level since 1948, said the statement, the Institute of Supply Management, released last week.