164,000 job cuts expected in L.A. in '09

By ABC7
LOS ANGELES Drastically falling home prices are the main reason for the predicted increase in unemployment rates.

The latest report, released by the /*U.S. Conference of Mayors*/, ranks L.A. second in projected job losses.

New York comes in first with 181,000 predicted cuts.

Miami is expected to lose 85,000 jobs, followed by Chicago with 80,000.


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