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Peoria County (News)

Economic forecasters see more job cuts ahead
WASHINGTON - It's shaping up to be another lousy year for workers, with more companies expecting to cut payrolls in the months ahead.

Caterpillar says to cut 20,000 jobs
CHICAGO - Caterpillar Inc said on Monday that quarterly earnings fell more than 32 percent and warned of a tough year ahead as the downturn that began in the United States metastasized into a full-blown global recession that hit sales of its earth-moving equipment.

Economy declined 0.5 percent in third quarter
WASHINGTON - The economy was shrinking in the summer and corporate profits were falling even before the financial crisis struck with full force. Analysts are forecasting that those small declines will be followed by much larger decreases this quarter as the longest recession in a quarter century gains intensity.