The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Think4Yourself who wrote (86578)	8/22/2007 2:15:54 PM
From: oldsman	Read Replies (1) of 306849

NEW YORK, Aug 21 (Reuters) - A prolonged U.S. housing slump is causing a surge in the number of job losses announced by U.S. financial services companies, consulting firm Challenger, Gray & Christmas Inc. said on Tuesday. The financial industry has announced 87,962 job cuts so far this year, 75 percent more than the total of 50,327 in all of 2006. Of this year's cuts, 41 percent related to troubles in the mortgage market, including riskier subprime mortgages, Challenger said. In August alone, there have been 20,957 announced job cuts, including 11,040 since Friday, Challenger said. today.reuters.com

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