White House Forecasts More Job Losses this Year; EmploymentCrossing Posts a Staggering Number of Jobs in a Week

January 20, 2009   |    PDF version

Pasadena, CA — The White House predicted that the US economy would shed more than 200,000 jobs a month in 2009, but expressed hopes of a robust economic growth in the coming two years. EmploymentCrossing, one of the leading job boards in the world, seconds the forecast saying that job cuts will most likely increase in the face of growing recession this year, but with right efforts put in, jobs will grow steadily in due course. The online job research institution was able to post 309,380 jobs last week, a terrific effort indeed, considering the country’s current job market. The job site is now increasing its own workforce to generate as many job postings as it can in order to relieve the unemployed of their present plight.

''The US job market is in complete shambles. Many people are coming to us for help finding jobs,'' says Harrison Barnes, the CEO of EmploymentCrossing. ''Almost every sector and industry is really being hit hard in the country, and the trend is unfortunately that of a downward spiral.''

According to the forecast released by the US Conference of Mayors, New York is expected to suffer the largest decline of jobs this year, with a projected loss of about 181,000 jobs. The financial industry in the city is said to suffer the most compared to other industries, with 50,000 write-downs forecasted for the city itself. Global Insight, the international firm that puts forth the figures for the mayor’s group, also projected that by the end of 2009, one-third of all metropolitan areas in the country would have experienced no overall job growth for the first decade of the century.

Additionally, White House forecasted that the unemployment rate will jump from 5.7% in 2008 to 7.7% in 2009. The ''Economic Report of the President'' estimated that about 235,000 jobs are in danger of getting obliterated every month, almost a double the decline of 114,000 a month in 2008. On a positive note, the White House Council of Economic Advisers predicted an upsurge of the real gross domestic product (GDP) at an annual rate of 0.6% in 2009 after a 0.2% fall in 2008.

Barnes says, ''The projections might well turn out to be true in the long run. But, what is more important is that if the job seekers are alert and quick, they are sure to land up with job. Though some good jobs have disappeared, the consistent trend in the economy is that only the proactive job seekers succeed during tough times.''

''It is also vital to search for jobs in the right place, i.e., the best source. EmploymentCrossing scours over 250,000 employer sites and more than 8,000 job boards for high-paying, active job listings, and posts them in the site’s job database.''

There are over 2 million job listings at present on EmploymentCrossing’s site, and the number of jobs is expected to receive a major boost in the coming days. For more information, log on to www.employmentcrossing.com.

Contact:
Mary Wilson, Editorial Coordinator
EmploymentCrossing
626-243-1821
mary@employmentcrossing.com

About EmploymentCrossing
EmploymentCrossing is a powerful and comprehensive organization dedicated to helping professionals find jobs that will enhance their careers. EmploymentCrossing consists of 90+ industry-specific job boards which consolidate every job opening they can find in one convenient location. The website also offers a seven-day free trial to new members.