U.S. Suffering Permanent Destruction of Jobs

Washington’s Blog
Monday, Oct 5th, 2009

America is suffering a permanent destruction of jobs.

JPMorgan Chase’s Chief Economist Bruce Kasman told Bloomberg:

[We've had a] permanent destruction of hundreds of thousands of jobs in industries from housing to finance.

The chief economists for Wells Fargo Securities, John Silvia, says:

Companies “really have diminished their willingness to hire labor for any production level,â€