The World Bank said the global recession this year will be deeper than it predicted in March and warned that a flight of capital from developing nations will swell the ranks of the poor and the unemployed.
The world economy will contract 2.9 percent, compared with a previous forecast of a 1.7 percent decline, the Washington- based lender said in a report today. Growth will be 2 percent next year, down from a 2.3 percent prediction, the bank said.
For full article: http://blog.rebeltraders.net/2009/06/22/futures-nose-dive-on-world-bank-forecast/
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June 22, 2009 at 3:28 pm
stothes
You don’t have to tell me that. I’ve been out of a job since March.
June 22, 2009 at 5:15 pm
JAMES
Stothes: that is too bad. What I find so disheartening everytime that I hear of another person being out of work is the times that I call for technical service on my computer or internet and the person on the other end tries so hard to be “American” when they are in Indonesia— keep the jobs here!!
June 22, 2009 at 6:10 pm
stothes
I’m hoping Obama gives me one of those nice green-collar jobs that we heard so much about during the campaign ;P
June 22, 2009 at 6:54 pm
Interested Bystander
stothes,
Try being out of permanent work since last March (2008).
I’ve had a couple of jobs where I was told that they would be permanent and then was told they had a “hiring freeze”, and was laid off.
Whenever I get an interview, I do well, it’s getting your foot in the door that is difficult.
Now I take temporary work that if I’m lucky will keep me busy for a week. The service I am working for says they will try to keep me busy, and I’ve been pretty lucky so far, but permanent work is hard to come by. One good thing about this kind of work is that it is something different almost every week, so it’s not monotonous, just scarey as to what I will or won’t be doing next week.
Good luck to you.
June 22, 2009 at 10:04 pm
stothes
Yeah, good luck to you too, IB. Hopefully, things will start to turn around soon. I don’t know how people are getting by these days. Hell, I’m single and I can barely get by on the dwindling remainders of my 401k. I feel bad when I’m at the career center seeing all these single mothers willing to work and there’s just not enough jobs to go around.
June 23, 2009 at 7:16 am
JAMES
Again Stothes, therein is my point about JPMorgan and others outsourcing jobs to Indonesia and India, when there are jobs needed here. Would it not make sense to restructure the taxes that make it advantageous to outsource overseas to make it desirable to keep the jobs here…. the income to those employees would then be spent here in this country, feeding this economy, not some other country.