Economists have warned that the patterns of job losses currently witnessed will likely continue into 2009. With home prices plummeting, auto sales falling, and the overall stagnation of the economy, it is unlikely that significant gains will be made on the job front until next year. For instance, Goldman Sachs estimates that the unemployment rate will peak at 6.4 percent late in 2009 before the economy improves, meaning that the painful process of shedding jobs may be only half-way complete.
See "Deepening Cycle of Job Loss Seen Lasting Into ?09", Peter S. Goodman, The New York Times, July 1, 2008