The last couple of months people in the US suffered the highest rate of job losses monthly that was seen since World War II. Due to fear of the economic regression and therefore people reducing their expenses, major companies had to cut back their workforce. Oncoming president Barack Obama called for drastic action.
Most of the job losses were suffered in december, with a forecast of 550.000 job losses in one month. More than half of last years job losses took place in the last 4 months. The number of aggregate hours worked by people who did keep their jobs also fell by 0.2 hours on 33.3 hours. Among the companies which suffer the losses is AT&T, the telecom company, who announced the cutting of 12.000 jobs. Experts differ in their analysis of the situation. Optimists say it could have been worse and realists say it's still a terrible situation.
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Unfortunatly, these things come with economical crises. It's still awful for the people that are involved but the economy will come back up again. The worst in my opinion is that this situation has been forseen by expert for quite some time, but the governments did not listen and take action which made the situation as bad as it is today. The decisions of some high managers a while ago caused the suffering of the regular people today.
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