Wednesday, May 1, 2013

Businesses slash jobs as sequester impact hits

From NBCNews:…..”More job cuts are on the way as the river of government spending flowing through the U.S. economy continues to slow. The $85 billion federal spending squeeze – part of a doomsday budget package originally approved last summer to force a more rational spending plan – has now lopped more than a full percentage point from gross domestic product over the past six months and eliminated tens of thousands of federal jobs.

“The hit to federal payrolls is expected to show up Friday in the latest monthly job numbers for April. Most economists are expecting the report to show a net gain of 145,000 jobs, according to the economists polled by Reuters….

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