Study: Jacksonville to Lose 22,300 Jobs

29 01 2009

Jacksonville’s job market will get slammed this year with an estimated 22,300 jobs expected to be lost by fourth quarter 2009, said a study released Jan. 19 by the U.S. Conference of Mayors.

Jacksonville’s unemployment rate is expected to reach 8.3 percent by fourth quarter 2009, a 1.6 point jump from 6.7 percent unemployment rate recorded in fourth quarter 2008.

The prospects for other areas of the state are even worse, with the Miami-Fort Lauderdale-Pompano Beach area predicted to lose 84,800 jobs, Tampa-St. Petersburg-Clearwater, 42,900, and Orlando, 27,700.

The New York area is expected to realize the largest job loss at 180,800.

The report expects all but five of 363 metro areas — Anchorage, Alaska, St. George, Utah, McAllen-Edinburg-Mission, Texas, Ithaca, N.Y. and Fairbanks, Alaska — to get hit by job losses.

Here’s some headlines in the news this month:

– Starbucks will close another 300 underperforming stores in 2009.
– Auto Trader cuts sales force following sliding print sales for two of its automotive magazine titles.
– Target announces layoffs.
– Home Depot to cut 7,000 jobs, close Expo.
– Clear Channel to lay off 1,850 jobs.
– Bank of America to cut 4,000 in capital markets.
– Circuit City to shutter remaining stores.
– Citigroup loses $8.3B, splits company in two.
– Cummer Museum cuts staff.
– Tarragon files for Chapter 11.
– Nuvell Credit to close; layoffs coming.

Source: Jacksonville Business Journal



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