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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Think4Yourself who wrote (86578)	8/22/2007 2:15:54 PM
From: oldsman	Read Replies (1) \| Respond to 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

To: Think4Yourself who wrote (86578)	8/22/2007 3:13:09 PM
From: Tradelite	Read Replies (1) \| Respond to of 306849

<<GM alone employs 280K>> The fed govt has employed about 3 million civilian employees scattered around the country for decades (Uncle Sam has offices in all major U.S. cities, plus the lowly forest rangers wandering around in...forests.. and the border-patrol folks......and all the federal prosecutors who have law degrees......and this doesn't count all the fed govt contractors who work for Uncle Sam in one way or another in all major cities of the U.S....and let's not forget the diplomats working overseas). And then do we even need to talk about the military service members and where they are located in cities around the U.S. and overseas? (Way more overseas at the moment.) The economy and workers' contributions to it are really hard to measure. But Uncle Sam should get a lot of credit for spending your tax money and plowing it back into the economy thru employee spending in one way or another. <<GG>>