Monday, January 19, 2009


Well, for all those who got the most rewarding job in their life, recession may not affect them. Even their company decides to fire them they may have nothing to worry because all those good years of their service, they have stored enough reserves for this kind of contingency. But for those starters, this time is tough.

According to the latest report, in the United States of America alone, only five metropolitan areas will escape job losses this year. Ithaca, N.Y.; Fairbanks, Alaska; and St. George, Utah, are among the handful of the nation's 363 metropolitan areas expected to see employment remain flat or increase slightly.

New York is expected to take the biggest hit as thousands of jobs are lost on Wall Street. Big financial firms are slashing workers as they cope with bad debt. Other companies have gone under, like Lehman Brothers Holdings Inc., which filed for bankruptcy in September.

Report said that New York area is expected to lose 181,000 jobs. The Los Angeles area is expected to see 164,000 lost jobs, in part because of the huge drop in home prices that has punctured the California economy. After New York and Los Angeles, the Miami area is expected to see the greatest loss, with a decline of 85,000 jobs. Chicago and the surrounding area are next, with losses projected at 80,000.

Unemployment is expected to top 10 percent in 70 areas, from already hard-hit cities like Detroit and Cleveland to places that had until recently been prosperous like the Riverside-San Bernardino area in California. Other big cities like Denver and St. Louis are expected to see unemployment rise above 9 percent.

For all of us who are still harvesting the fruit of our labor, we must have the courage to take the risks, and remain loyal to the company. God has plan for all of us.