Friday, July 4, 2008

No Sight Of Second Half Recovery

From the Oregonian:

The economy is likely to keep stumbling at least through the rest of the year, analysts agreed Thursday, after a disappointing government report showed that payroll jobs fell by 62,000 in June, the sixth straight month of job losses.

"More job losses are coming through the remainder of the year. The economy has lost just over 400,000 jobs since the start of the year and will lose another 400,000 by year's end," said Mark Zandi, chief economist for forecaster Moody's "Behind this pessimism are the broad-based job declines across most industries and regions of the country."