Employment situation worsens in NYC

Recall that in March, New York City's budget office predicted that 20,000 jobs would be lost in the financial services sector. It now says that total job losses will run to 33,300 jobs, notes Financial News Online. More than 17,000 of those job losses will have taken place in the the last quarter of 2007 through the first half of next year. So we're in the thick of it right now. Of course, these projections can, and likely will, change. The most recent forecast by city planners also suggests that a local recession may be starting; it likely will last longer than the rest of the country. This will feel like old hat to a lot of you. We can all feel especially bad for the ones just starting out. But such times eventually can amount to opportunity. We'll survive.

For more:
- here's the Financial News Online article

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