More Jobs Lost in September
Posted by Matt Ortega on October 1, 2008 at 01:04 PM
CNN reported on new figures that showed increased job cuts with the tech and auto industries hit the hardest.
The number of job cuts announced in September rose as the economy slowed, according to a report released Wednesday.
Positions on the cutting board rose 7.2% to 95,094 from 88,736 the previous month, and were 33% higher than the same month last year, when 71,739 cuts were announced, according to outplacement consultancy Challenger, Gray & Christmas, Inc.
September brought the announced layoff total for the third quarter to 287,142 - the largest number since 2005, according to the report.
We cannot afford four more years of the same.
Comments (3) «
Let's see approx 700,000 jobs lost, does that translate into 500,000 subprime loans going into foreclosure, probably.
NO JOBS = NO AMERICA
I'd like to see a graph tracking the job losses from 2000 to now. Also one tracking real (adjusted for inflation) wages.
I'll bet dollars to donuts the the recession has been going on a lot longer than the "economists" care to admit, and that we are headed into another Depression.
The "experts" have been using phony economic indicators for a long time now showing how Wall Street was so prosperous, and ignoring Main Street.
Let's see some real ones.
Every time bad economic news is shared with the public, the more they will understand the need for the $700 Billion rescue bill that appears to be passing in the Senate. Nancy Pelosi and her Democratic colleagues in the House can show strong leadership by voting unanimously for the measure once it reaches the House floor. It will be easier to explain to constituents why a representative voted for the measure than to explain why he or she didn't. This bill is needed to keep jobs and pensions from disappearing, and Monday's stock declines was a small measure of what we can ixpect if no rescue plan is adopted.
This time, Americans get it. Today there was the job loss report and the fact that manufacturing has slipped to 9/11 levels.
The rescue plan is contrary to conservative economic phylosophy, with policies that contributed greatly to the Wall Street decline.The major Senate archtect of deregulation, ex-Senator Gramm, continues as an economic adviser and Carley Fiorina,, ex CEO of HP who was awarded a $42 Million Golden Parachute advises McCain on major business policy issues. Four years of McCain is worth eight years of fiscal mismanagement and descending quality of life for all Americans.
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