Economist: worst of layoffs over
Despite recent announcements of hundreds of layoffs at DuPont Co. and Reynolds Packaging Group, the worst of the job cuts appear to be over in Virginia, an economist said today.
"We're still declining . . . but the worst of it is behind us," said Christine Chmura, president and chief economist at the Richmond firm Chmura Economics & Analytics.
Chmura also said she expects the recession to end in Virginia during the fourth quarter of this year or early in 2010.
Her comments were part of an annual Virginia Economic Forecast that the Thomas Jefferson Institute for Public Policy has presented for the past decade.
Reader Reactions
Yeah truthtellr…how dare he create jobs. What is he thinking? He should keep people out of work. What a terrible, terrible man.
Hey Everyone - Obama announced that 600,000 new jobs will be created this summer, aren’t you excited!?
I’m so glad he’s in charge - he’s SO SMART.
Personally, I could do without his sort of “Change” - you can keep it.
I am sure the illegal aliens will be happy to hear the lay offs are over. I seriously doubt any of them lost their jobs if anything they took more of the job market.
It is funny how one who is employed is looking on the bright side..ask someone without a job if things are getting better…
Just because the worst is over doesn’t mean we won’t bleed to death from 300,000 to 500,000 job losses per month for an extended period. If we had kept up at the rate we were going for another few quarters, we’d have more people unemployed than employed….
Maybe the worst seems to be over because most at risk businesses have already closed their doors and/or are operating with skeleton crews. Anyway, let’s hope she’s right.
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