Saturday, Feb. 07, 2009

Jobs

The employment scene is a disaster. We've shed 3.6 million jobs since the recession began. Private sector average weekly hours worked stuck at a record low 33.3 hours in January, and because companies typically cut hours before cutting heads the slide means more layoffs are coming. Look for this number to stabilize over a period of two or three months and then begin to inch upward for an early indicator that the economy is recovering. We won't hit a normal reading of around 35 hours for a long time. But the key is to just change the direction. You can find private sector average weekly hours worked on the Bureau of Labor Statistics web site.

See the worst business deals of 2008.