Wired PR News.com – America saw the dissolution of a half a million jobs in the month of November. The worsening economy has many questioning when the mass layoffs will be replaced by mass hirings. As reported by the Associated Press (AP), the recent large number of job losses is the worst to have occurred in more than 30 years.
General Motors is among the latest large corporations to announce job cuts that might significantly contribute to an increase in homeowners who are unable to pay mortgages and reports of individuals left unable to pay other living expenses. Economists have projected that now an estimated 10.3 million people are currently out of work, and three million more could be within the next two years.
Despite fears of a possible depression, Wall Street has recently been in the spotlight for an attempt to bounce back from the pitfalls after experiencing large gains throughout the week, ending on Friday with 259 point jump.