Report: Unemployment going to get worse

January 19, 2009 5:27:14 AM PST
A new forecast predicts that unemployment will get worse before it gets better. [SIGN UP: Get headlines and breaking news sent to you]

The report prepared for the U.S. Conference of Mayors finds that nearly every city is predicted to lose jobs this year and even Houston is vulnerable. Houston is predicted to lose 43,800 jobs this year. Unemployment in Houston projected to rise from 5.3 percent to 6.6 percent.

However, Houston is better off compared to New York and Los Angeles, which are predicted to lose more than 181,000 and 164,000 jobs respectively.

Unemployment could reach 10 percent in 70 cities, about one-fifth of the country.

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