Home > News & Trends > NDTV - September 20, 2009, by Shahid

27 People Lose Job per Hour Across all Sectors

The US economy showing indications of recovery but the global job market remains gloomy, with companies laying off at least 27 employees every hour to cut costs. With companies continuing to reduce their headcount in their efforts to tackle the downturn, around 13,000 jobs have been slashed so far in September.

The lay-offs are happening across almost all the sectors from pharma to software to refinery, among others. Most of the job cuts happened in the United States, which has already seen a staggering 5,50,000 Americans filing for unemployment benefits in the first week of September.

Job losses of about 12,900 have been witnessed in just 20 days of this month, translating into an average of 645 people being laid off per day. In turn, the toll comes to at least 27 people losing jobs per hour.

Source: NDTV