More Job Cuts Are Likely, According to Washington Think Tank

It is not new news that the economy is still having trouble recovering from the worst recession in history, but The Center on Budget and Policy Priorities, a Washington think tank working at the federal and state levels on fiscal policy and public programs that affect low- and moderate-income families and individuals, recently said that as many as 600,000 to 700,000 more jobs will most likely be cut in the next year.

Even with the recent federal aid totaling $26 billion, it is projected that this massive sum of money infusing the economy will not save enough jobs to slow the progression and momentum of an already failing job market.

The sectors expected to see the worst of the layoffs are state, local and private contractors that work in government-dependent businesses.