The Bloomberg Survey: Jobs Numbers Will Get Worse

There is no good news in the most recent Bloomberg survey of economists regarding the unemployment situation in the US.

The new poll indicates that "The U.S. economy probably lost more jobs in 2008 than in any year since the end of World War II as firings rippled from homebuilders and automakers to banks and retailers."

“We’re continuing to lose massive amounts of jobs,” said Michael Feroli, an economist at JPMorgan Chase & Co. in New York. “The negative momentum carrying over into the first half of 2009 will hold down the economy regardless of policy.”

Douglas A. McIntyre