Get ready for more doom and gloom from the retail sector this month. We’re now 13 straight months into job losses, and it isn’t letting up any time soon.
Here is where we are so far this year:
To read a more detailed overview of these job cuts, check out Mish’s article Disaster in Jobs Accelerates in 2009.
The general consensus in the media and certain financial firms is that we have reached a bottom. If you hear someone say this, you might as well stop listening — turn off the TV, because everything else that comes out of their mouth will be BS.
We are going to see further deterioration in the job markets this year. My guess: 3,000,000+ more will be toast by the end of this year.