Report: More Than 1M Jobs Lost In Last Two Months Of '08
Employers in the private sector shed 693,000 jobs in December, a figure much higher than expected, according to a private employment service.
This comes on the heels of 476,000 jobs lost in November, meaning that a staggering 1.1 million jobs in the private sector alone were lost in just the last two months of 2008, according to ADP Employer Services.
Economists expected the December job-loss number to be in line with November's.
In other tough news out this morning:
- Computer-chip giant Intel cut its fourth-quarter earnings estimates for a second time, saying revenue will be down 23 percent compared to the fourth quarter of 2007.
- Time Warner Cable said a $15 million impairment charge will send the company to a 2008 loss.
January 7, 2009; 9:37 AM ET
Categories: The Ticker | Tags: jobs, unemployment
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