(1888PressRelease)
January 13, 2009 - Asian-based asset management firm, "Guardian Worldwide", reportedly see US employment reaching double percentage figures as job losses in the world’s largest economy run at half a million a month.
A worsening year-long recession has forced US companies to slash payrolls by more than half a million jobs. The figures exceeded economists’ expectations of a smaller rise to 7 per cent.
"Guardian Worldwide" said the news confirms that the recession in the US is deeper than recent commentary would suggest.Sources close to "Guardian Worldwide" say the firm has advised clients to ignore mainstream advice advocating a return to large-scale investment in US equities outside specific industry sectors citing similar ill-founded recommendations that seduced several sovereign wealth funds to invest in the likes of Lehman Brothers and Merrill Lynch.President-elect, Barack Obama reiterated his call for Congress to approve his $800 billion stimulus package aimed at creating millions of jobs linked to infrastructure projects but "Guardian Worldwide" are thought to believe that these will take some time to filter into the jobless numbers.
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