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Strategies & Market Trends : Anthony@Pacific & TRUTHSEEKER Expose Crims & Scammers!!!

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From: ravenseye	9/5/2007 3:46:39 PM
	of 5673

Layoffs surge 85% on mortgage meltdown: report By Rex Nutting, MarketWatch Last Update: 7:30 AM ET Sep 5, 2007 WASHINGTON (MarketWatch) -- Tens of thousands of jobs were lost in August because of the widening problems in the mortgage industry, according to the monthly tally of layoff notices released Wednesday by outplacement firm Challenger Gray & Christmas. Corporate layoff announcements surged by 85% to 79,459 in August, the second highest total of the year after layoffs had fallen to a one-year low in July. August job reductions were up 22% from August 2006.... marketwatch.com ...The financial sector eliminated 35,752 jobs in August, nearly half of the jobs lost in the month. Overall, the financial sector -- which includes banks, insurance, real estate and mortgage companies -- has shed 102,758 workers so far this year, more than the total cut in the sector in all of 2005 and 2006.... ..."Unfortunately, these cuts are likely to be just the beginning," Challenger said. More than 2.9 million workers are employed in credit intermediation and related activities....

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