It has been more than two months since I wrote “It’s gloomy out there“. It’s getting gloomier. Every passing week brings more bad news. Big-name companies, that are generally thought as safe for employment, are also laying off big time.

Last week Microsoft announced termination of 5,000 employees, Intel announced the elimination of 6,000 jobs and United Airlines said it would get rid of 1,000 jobs. More than 40,000 employees received the pink slips today. Unemployment is hovering around 7%, it ‘s estimated to reach 10%.

In a survey by the National Association for Business Economics, 39% of companies plan to reduce payrolls over the next six months, while 17% plan to increase employment. Only the services sector continues to create jobs. Survey respondents continued to grow more pessimistic about the macroeconomic outlook.

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