You think wages are more important than this?
I don't.
Wages are hugely lagging, and for that matter so are jobs and if they are turning over already that is a pretty bad sign dont you think?
US Aug layoffs surge, housing slowdown cited
Tue Sep 5, 2006 7:38 AM ET
NEW YORK, Sept 5 (Reuters) - Planned U.S. layoffs surged 76 percent in August compared with the previous month amid signs that a slowdown in housing was starting to have an impact on employment, an independent report showed on Tuesday.
Announced layoffs in August totaled 65,278 jobs, compared with a six-year low of 37,178 in July, according to Challenger, Gray & Christmas Inc., an employment consulting firm. It was the only second time this year that monthly job cuts have increased.
On a year-on-year basis, August job cuts were down 7.5 percent, from 70,571.
"There are some signs that the housing slowdown is taking a toll on jobs," said John A. Challenger, chief executive of Challenger, Gray & Christmas.
"Job-cutting in real estate this year is nearly double last year. However, we have not as yet seen a major uptick in job cuts in the sectors we might expect during a significant slowdown. The housing slowdown has not had a major impact on the job market, yet."
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yahoo.reuters.com |
