Worried Americans cut spending as jobs disappear

Fri Jan 9, 2009 6:18pm GMT
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By Andrea Hopkins

CINCINNATI, Jan 9 (Reuters) - Americans, already anxious about losing their jobs, faced Friday's news of deepening unemployment with grim resignation and vowed to cut their spending further, update their resumes and brace for survival in what many expect will be a long, painful recession.

A government report showing U.S. employers cut more than half a million jobs in December and the jobless rate climbed to its highest point in nearly 16 years seemed to surprise few Americans interviewed in cities across the country.

"I'm very worried about my job," said Ellen Whittington, 32, who works for a German automotive company in Cincinnati.

"I've gotten back on (online career site) Monster to update my resume and I'm trying to network with people I know," said Whittington, who hopes her 10 years in the fast deteriorating auto sector will translate to another field.

But, like many, she's preparing for a long recession.

"I think it's going to get a little bit worse before it gets better, maybe another two to four years," she guessed.

In Chicago, 29-year-old Matthew Lane was discouraged by a his futile six-month search for full-time work.

"I have two part-time jobs that I really enjoy that don't pay a whole lot but pay enough to keep me afloat," said Lane, who works at the Chicago Children's Museum and teaches music.  Continued...

 
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