"Firms in the United States technology sector announced planned job cuts totaling 84,217 in the first quarter 2009, up 27 percent from 66,312 in the previous quarter. It was the largest quarterly jobcut tally for the sector since 2002 fourth quarter, when 133,511 layoffs were announced in that quarter" according to the report released Monday by global outplacement firm Challenger, Gray & Christmas, Inc."
http://blog.baselinemag.com/bottom_line/content/careers/technology_employment_worst_quarter_since_2002.html
Saturday, April 11, 2009
Wednesday, February 4, 2009
China 2009 Crisis - 20 Million Lose Jobs
Hindustan Times 3 Feb 2009
State media Xinhua quoted a senior official taht abut 20 million migrant workers returned home form urban areas. Chen xiwen, Director of the Office of Central Rural Work Leading group is the offical quoted. Government issued a warning that 2009 would be China's toughest year since 2000.
China's colleges will produce at least 6 million graduates this year. Last 1.5 million could not find employment
State media Xinhua quoted a senior official taht abut 20 million migrant workers returned home form urban areas. Chen xiwen, Director of the Office of Central Rural Work Leading group is the offical quoted. Government issued a warning that 2009 would be China's toughest year since 2000.
China's colleges will produce at least 6 million graduates this year. Last 1.5 million could not find employment
Friday, January 23, 2009
Chinese Economy Grows at 6.8% in Fourth quarter of 2008
Economic Times 23 Jan 2009 page 10
6.8% is year on year growth.
This is the slowest gain in past seven years.
In the previous quarter the growth rate was 9%.
6.8% is year on year growth.
This is the slowest gain in past seven years.
In the previous quarter the growth rate was 9%.
Sunday, May 25, 2008
Further rate cut unlikely this year in US
Federal Reserve officials are putting out the word that further interest rate cuts are unlikely from various platforms.
Fed Governor Kevin Warsh was forthright, ""Even if the economy were to weaken somewhat further, we should be inclined to resist expected, reflexive calls to trot out the hammer again,"
Fed Vice Chairman Donald Kohn, said the current stance of interest-rate policy "appears to be appropriately calibrated for now."
Janet Yellen, president of the Federal Reserve Bank of San Francisco, called the current level of rates "appropriate."
That does not mean the economy, very badly bruised by housing, credit and financial woes, is out of the woods.
The Fed, though, is hoping its powerful doses of cuts, along with the government's relief plan of tax rebates and breaks will help lift the economy in the second half of this year.
Many economists believe the Fed will hold its key rate steady at 2 percent, a four-year-low, at its next meeting on June 24-25 and probably in the entire 2008.
Visit for more details
http://news.yahoo.com/s/ap/20080525/ap_on_bi_ge/fed_loud_and_clear
Fed Governor Kevin Warsh was forthright, ""Even if the economy were to weaken somewhat further, we should be inclined to resist expected, reflexive calls to trot out the hammer again,"
Fed Vice Chairman Donald Kohn, said the current stance of interest-rate policy "appears to be appropriately calibrated for now."
Janet Yellen, president of the Federal Reserve Bank of San Francisco, called the current level of rates "appropriate."
That does not mean the economy, very badly bruised by housing, credit and financial woes, is out of the woods.
The Fed, though, is hoping its powerful doses of cuts, along with the government's relief plan of tax rebates and breaks will help lift the economy in the second half of this year.
Many economists believe the Fed will hold its key rate steady at 2 percent, a four-year-low, at its next meeting on June 24-25 and probably in the entire 2008.
Visit for more details
http://news.yahoo.com/s/ap/20080525/ap_on_bi_ge/fed_loud_and_clear
Monday, May 5, 2008
Friday, May 2, 2008
Britain would grow by 1.8 percent only in 2008
LONDON (Reuters) - The economy will slow sharply this year as consumers tighten their belts, a leading thinktank warned on Friday.
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The National Institute of Economic and Social Research forecast Britain would grow by just 1.8 percent in 2008 after 3.0 percent last year.
http://uk.news.yahoo.com/rtrs/20080501/tuk-uk-britain-economy-niesr-fa6b408.html
(Advertisement)
The National Institute of Economic and Social Research forecast Britain would grow by just 1.8 percent in 2008 after 3.0 percent last year.
http://uk.news.yahoo.com/rtrs/20080501/tuk-uk-britain-economy-niesr-fa6b408.html
Wednesday, April 2, 2008
Bernanke's testimony to the Joint Economic Committee:
2.3.2008
For full text visit
http://news.yahoo.com/s/ap/congress_bernanke_text;_ylt=Aq4KhIoIOg5u.CDnuu_Y1Y9v24cA
Bernanke's testimony was shown live on many channels.
He said there may not be any growth in the first half of 2008, some contraction may be possible.
Thus Bernanke hited at the recession in the first half of 2008
For full text visit
http://news.yahoo.com/s/ap/congress_bernanke_text;_ylt=Aq4KhIoIOg5u.CDnuu_Y1Y9v24cA
Bernanke's testimony was shown live on many channels.
He said there may not be any growth in the first half of 2008, some contraction may be possible.
Thus Bernanke hited at the recession in the first half of 2008
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