As thousands of recession-fueled layoffs and job losses clamor for headline space, more homeowners faced with falling values are opting for Chapter 7 protection.

Although few would argue that workers (and their decreased spending power) benefit when hard-strapped businesses close their doors, others believe the nation will be better served by letting marginal companies jump off the Darwinian cliff. Regardless of the various opinions, it’s tough to argue with the numbers that are emerging.

Citing a new report, Associated Press economics writer Jeannine Aversa says that a “new survey by the National Association for Business Economics depicts the worst business conditions in the U.S. since the report’s inception in 1982.” In a Jan. 26 article carried by several papers (here’s one), Aversa says that 39 “percent of NABE’s forecasters predicted job reductions through attrition or ‘significant’ layoffs over the next six months, up from 32 percent in the previous survey in October. Around 45 percent in the current survey anticipated no change in hiring plans, while roughly 17 percent thought hiring would increase.”

Calling the recession a “job killer” that experts believe will continue into 2009, she writes: “The economy lost 2.6 million jobs last year, the most since 1945. The unemployment rate jumped to 7.2 percent in December, the highest in 16 years, and is expected to keep climbing.”

Companies showing up in the latest round of layoffs announced Jan. 26 ranged from presumed leaders to those widely known to be in trouble. Sprint Nextel, recognized as the nation’s third-largest wireless carrier, announced cuts of 8,000 jobs (as well as severe cutbacks for remaining workers) while construction-equipment giant Caterpillar says it’s letting go of 20,000 employees.
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