Friday, January 9, 2009
Welcome to 1945…
The market was expecting the worst in the government’s latest monthly employment report and it was not disappointed. “Job losses were large and widespread across most major industry sectors,” the U.S. Department of Labor’s Bureau of Labor Statistics reported Friday. The U.S. economy lost 524,000 jobs in December, closing out the worst year for job attrition since World War II, according to the BLS. Total job losses for 2008: 2.6 million, the largest decline since 2.750 million jobs were lost in 1945. A 16-year high. Congratulations, folks….
Sad Guys on Trading Floors may soon have some new photographs of dismay to catalog, if the Silicon Valley Venture Capitalist Confidence Index is any guide. Released this morning, the index puts VC confidence at its lowest point in the five-year history of the survey.
