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Wednesday, 05/06/2009 3:05:18 PM

Wednesday, May 06, 2009 3:05:18 PM

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Bloomberg: U.S. Companies Reduce Payrolls by Another 491,000

Ref - http://www.bloomberg.com/apps/news?pid=20601103&sid=asnDB772FbzE&refer=us

The Federal Reserve projects the U.S. will probably continue to lose jobs even after the economy emerges from the recession, economists said. “We are likely to see further sizable job losses and increased unemployment in coming months,” Fed Chairman Ben S. Bernanke told congress yesterday. “The unemployment rate could remain high for a time, even after economic growth resumes.”
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