Latest News:  
Beijing   Cloudy    33 / 24   City Forecast

Home>>World

U.S. postal service to cut thousands of jobs

(Xinhua)

08:41, August 12, 2011

WASHINGTON, Aug. 11 (Xinhua) -- Financially struggling U.S. Postal Service (USPS) is considering to lay off thousands of jobs, a bad news for the already troubling U.S. labor market, local media reported on Thursday.

The agency, which has 583,908 career employees, is reported to cut as many as 120,000 jobs to relieve from financial burden. It is facing a second year of losses totaling more than 8 billion dollars.

Over the last four years, USPS has cut 110,000 jobs and is currently engaged in trimming 7,500 administrative staff.

The agency's job reduction move will worsen the U.S. unemployment situation, which is the number one challenge for the Obama administration.

The unemployment rate, currently at 9.1 percent, is not expected to fall sharply in the near future.

The world's largest economy has lost more than 8 millions jobs since the burst of the financial crisis in 2008. Currently, about 14 million Americans are out of work.

On Thursday, U.S. President Barack Obama vowed to continue to focus on economic growth and job creation.

Email|Print|Comments(Editor:陈乐乐)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Xinjiang village's exports to Europe

  2. Youth sports stay strong in China

  3. Yunnan town with Islamic flavor

  4. 'Luoyang' missile frigate returns to harbor

Most Popular

Opinions

  1. London rioting ignited by what?
  2. Does a perfect political system exist?
  3. Why should the US be immune from criticism?
  4. Putting the rail system back on track
  5. Not all WTO members are equal
  6. Catholicism should adapt to local conditions
  7. Draft may expand lawsuits against government
  8. China to strengthen grassland ecology protection
  9. Arms sale to Taiwan no longer US 'trump card'
  10. Keeping a cool head amid global unrest

What's happening in China

Chinese president meets UNESCO head

  1. Legendary Chinese judge has a case against popular Starbucks coffee mugs
  2. EU, Chinese youths discuss participation in policy-making
  3. Bush's memoir foresees improvement in U.S.-China relations
  4. China's new aircraft carrier no threat to power balance: Russian expert

PD Online Data

  1. The Tartar ethnic minority
  2. The Xibe ethnic minority
  3. The Miao ethnic minority
  4. The Maonan ethnic minority
  5. The Lahu ethnic minority