More than 2.6 million jobs in the US disappeared in 2008 and around 11 million Americans are now unemployed, according to this news report. The grim scenario is not yet over as companies last week announced more than 126,000 job cuts worldwide in the coming months.
The Philippines is not also spared from the effects of this economic crisis. The Department of Labor and Employment (DOLE) reported that since October 2008, a total of 23,485 Filipinos here and abroad have lost their jobs as a direct result of the global economic crisis.
