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Half-Million Jobs Vanish as Economy Deteriorates

Half-million jobs disappear, worst in 34 years, as economy deteriorates ever more rapidly

Obama, who takes office on Jan. 20, has called for a massive economic recovery bill to generate 2.5 million jobs over his first two years in office. House Speaker Nancy Pelosi, D-Calif., has vowed to have a package ready on Inauguration Day for Obama's signature.

People looking for employment use computers in the resource center at the Super Jobs center, Friday,... Expand
(AP)

The measure, which could total $500 billion, would bankroll big public works projects to create jobs, provide aid to states to help with Medicaid costs, and provide money toward renewable energy development.

For now that's cold comfort to Gary Cope, 33, who lost his communications job this week at Roanoke, Va.-based high-tech research and development company Luna Innovations Inc.

Cope was called into a meeting first thing Thursday morning. The message: He was being laid off, for financial reasons, effective immediately.

He left with a box of his belongings and about two months' severance. As Cope walked out the door, all he could think was, "I have a 3-year-old son and I'm a single dad."

"I came home and did my initial pity party, then I got myself together, talked to my family and went right to work" rewriting his resume and sending it out, Cope said.

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AP writers Christopher S. Rugaber, Ellen Simon and Chris Leonard contributed to this report.

Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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