Posted on 01/26/2009 12:50:34 PM PST by Red in Blue PA
NEW YORK (CNNMoney.com) -- The final week of January began with a bloodbath for the job market, as over 68,000 more cuts were announced on Monday alone.
At least six companies from manufacturing and service industries announced cost-cutting initiatives that included slashing thousands of jobs.
More than 200,000 job cuts have been announced so far this year, according to company reports. Nearly 2.6 million jobs were lost over 2008, the highest yearly job-loss total since 1945.
(Excerpt) Read more at money.cnn.com ...
0bama’s fault.
Thanks Obama and the Communist Congress of the United States.
I would guess more companies don’t announce layoffs than do. Hard to tell what the real number is..
You Bet Ya!
Thanks a whole ..... lot Obama.
Hey, they’re just doing the jobs out of work Americans would take, it’s not like they’re really causing a problem or anything.
Welcome to Omerica!!
If they are here legally so what..
republicans take over a recession.
republicans bring 6 years of great times
Dems take over in the last two years except the presidency so Bush can’t do much as he wanted and then the times start to decline
prized plum phony gets; elected and the markets drop a record.
Since then it has nosed dive and now the biggest layoffs for decades.
But wait in other news
prized plum phony wants increased immigration,
homo’s to be open in the military
overturn DOMA thus overturn our votes and state laws
Close Gitmo
Be nice to terrorists
Pull out of Iraq as soon as he can,mmmmmmmmmmm though it is much better.
Tells us global warming is fact, in front of a selected clapping crowd and no questions to be taken which even Stalin would have been proud of.
Yep prized plum puppet of George Soros is this the change you said we would get to your darlings and the loving media
Known as the o’bummer depression!
LLS
OBAMAS FAULT!!! HIS ILLEGAL WAR ON PAKISTAN IS TAKING HIS ATTENTION AWAY FROM THE ECONOMY!!! NO UN APPROVAL FOR HIS ILLEGAL WAR ON PAKISTAN!!!WAR CRIMES TRIAL NOW!!!
(LOL-Nice to be able to throw it back at the DUmmies)
Over a quarter of a million jobs have been lost on Osama’s watch.
Doesn’t surprise me.
Yet as recently as last year tech companies were petitioning for more h1b visas.
Ya, I work at a university and a whole lot of folks got let go today... The interesting part was that not one faculty member was let go. If you ask me they should be the first let go in tough times and others should have to step up and teach more then 2 classes a semester.
Scary. And all that talk toward the close of the article about V shaped recovery in the latter part of the year is, frankly, total nonsense. It will get a LOT worse before it gets better.
I mentioned in earlier posts on FR that there was a derivative overhang last summer of more than $550 trillion dollars, and that the idiots in the big banks and hedge funds were actually increasing them instead of unwinding them.
Now I just came across an article on the current state of the world derivative market. Unbelieveable. Here’s an extract from it:
“Now derivatives are looming like a giant falling safe right over our heads at an incredible 683 trillion dollars. There ain’t that much money in the entire flipping universe.
“In the latest 6 months measured by the BIS, while the economy grew at a rate of $27 trillion, derivatives grew by $88.3 trillion. Must have been Warren Buffett selling those naked puts.
“If you are among the newly unemployed and you want to see just how soon Obama’s bailout and recovery program is going to succeed, take a pail down to the ocean and start bailing. When you have stopped the tide, that’s when the government will have fixed the problem.”
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