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alstry (36.57)

Ax dropping in CA

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March 19, 2008 – Comments (4)

Statewide teacher layoffs: It’s 20,000 Nathan Donato-Weinstein

The number of teachers in California who have been issued notices of potential layoffs has hit 20,000, the state’s education chief said Friday.

School districts are required by law to notify teachers and other certificated staff members that they could be laid off by March 15. The recent layoffs – including dozens in Placer County districts – have been spurred by $4.8 billion in cuts to education contained in Gov. Arnold Schwarzenegger’s January proposed state budget.

http://www.auburnjournal.com/detail/79466.html

The above is just teachers alone.  What about police officers, firefighters, and all of the other state and municipal jobs. We could be talking about over 100,000 jobs in just one state.  A big state, but just one state.  There are 49 others facing similar problems with substantial budget shortfalls.

Add in the potential of millions of contruction workers and financial services workers and the numbers are really starting to grow. 

Mommy, it seems obvious we are now in a recession.........is the question now depression?

4 Comments – Post Your Own

#1) On March 19, 2008 at 9:21 PM, alstry (36.57) wrote:

Even more job cuts?

WSJ:

Auto Makers Prepare for Worsening SlumpBy TERRY KOSDROSKY and MIKE SPECTOR
March 20, 2008

The Big Three U.S. auto makers are preparing cost cuts and other belt-tightening measures in case a slumping U.S. economy hurts sales more than expected.

General Motors Corp. has pushed some capital expenses from the first quarter to later in the year to make sure it has enough cash if the downturn in the U.S. market worsens, the company's chief financial officer said yesterday.

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#2) On March 19, 2008 at 9:46 PM, alstry (36.57) wrote:

Don't forget Airlines.

Delta just asked for 30,000 voluntary notices.  Its mothballing  planes and cutting routes.  The other carriers are facing similar problems. 

Hotel bookings are down as well.

Anyone see any patterns  developing? 

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#3) On March 19, 2008 at 10:08 PM, abitare (68.28) wrote:

Yeah, I see the pattern I talked about in Nov 07.

Why the Market sold off and will continue. Sinking Currency, Sinking Country Report this comment
#4) On March 19, 2008 at 10:41 PM, dwot (46.94) wrote:

Saw that, so, how many hands that feed get cut off?  First it is the economy by the mass export of jobs, now it is make sure the youth that you hope will look after things in your old age get screwed.  Maybe they will return the favour and seeing how we don't look out for their interests they'll have no reason to look out for ours...

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