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Reports: 1 Million Jobs are Imperiled

Philadelphia Inquirer (10/22/12) Joyce M. Rosenberg

Researchers at George Mason University and Chmura Economics and Analytics say more than 956,000 small business jobs could be lost if Congress fails to stop $109 billion in budget cuts slated for Jan. 2. However, lawmakers will wait until after the November election to discuss the issue of sequestration, forcing companies to pull back on hiring and reduce spending in the meantime. The estimate of job losses includes federal agencies and government contractors, as well as businesses that benefit indirectly.