3.4 Million Jobs Lost in the Last Year (So Far)

Ninety-nine of the nation’s 100 biggest labor markets had fewer jobs in August 2009 than a year earlier, led by a loss of 230,000 jobs from the Los Angeles area, according to a report released Wednesday by the U.S. Bureau of Labor Statistics.

The only exception was the Mexican border market of McAllen-Edinburg, Texas, which had 3,200 more jobs in August than in the same month a year ago.

Six markets, led by Los Angeles, lost at least 100,000 jobs during the 12-month span. The others were Chicago, Detroit, Atlanta, New York City and Phoenix.

Jacksonville lost 23,000 jobs, down 3 percent in August.

The biggest declines on a percentage basis occurred in the Detroit area, where 8.5 percent of the job base evaporated in a single year, and in Phoenix, with a drop of 7.9 percent.

The nation’s 100 biggest markets, taken as a group, lost more than 3.4 million jobs in the past year. Their collective employment was 89.3 million in August 2009, compared to 92.7 million in August 2008. Read the rest in the Jacksonville Business Journal.

It will take a long time to replace those jobs. A very long time.

Meanwhile, while the economy melts down, Obama is out campaigning for the Olympics to go to Chicago.


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