Nearly 1M jobs already lost because of "fiscal cliff," study finds

10/26/2012 | Washington Post, The

With the "fiscal cliff" still two months away, the U.S. is already losing nearly 1 million jobs as employers lay off workers, delay purchases and leave vacant positions empty, according to a study by the National Association of Manufacturers. If Congress fails to head off spending cuts and tax hikes scheduled to take effect Jan. 1, nearly 6 million jobs will disappear through 2014 and the jobless rate will approach 12%, the study concluded.

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