Housing A Sobering Economic Roundup By Matthew Brian Hersh - January 27, 2009 It was quite a day today: American Express Earnings Drop 79 Percent Sprint Nextel to Cut 8,000 Positions Caterpillar to Cut 20,000 Jobs Home Depot to Cut 7,000 Jobs And the grand finale: 62,000 Jobs Are Cut by U.S. and Foreign Companies
Let’s see, 62,000 jobs is domestically a third of a point on the unemployment rate—very impressive one-day loss if that is what it is. A full point is approximately half the workforce of a Congressional district—ouch! Reply
Let’s see, 62,000 jobs is domestically a third of a point on the unemployment rate—very impressive one-day loss if that is what it is. A full point is approximately half the workforce of a Congressional district—ouch!