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alstry (35.35)

No Jobs....No Recovery

Recs

15

June 29, 2009 – Comments (5)

CHICAGO — Household-products maker Kimberly-Clark Corp. said last week it plans to cut 1,600 jobs, or 3 percent of its global work force, as it slims down in the tough economy.

http://www.courierpostonline.com/article/20090628/BUSINESS/906280331/-1/newsfront2/Kimberly-Clark-to-cut-1-600-jobs

In upcoming weeks, expect to read about hundreds of thouansands, and even millions of Federal, State, and Local government employees losing their jobs due to budget cutbacks.

Until we can stem the job losses and massive wage cuts, the propects for any recovery are dim, especially for an economy so heavily dependant on the consumer.

5 Comments – Post Your Own

#1) On June 29, 2009 at 8:05 AM, alstry (35.35) wrote:

LANSING, Mich. (AP) - About 100 Michigan State Police troopers will be laid off Sunday after a last-ditch effort to avoid the job loss failed.

Last week we read about over 200 getting released from the Sacrementa Sherrif's department and 68 from the fire department.

We also read about California and Hawaii imposing approximately 15% wage cuts for all state employees.

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#2) On June 29, 2009 at 8:17 AM, alstry (35.35) wrote:

It is NOT just America....

From  the NY Times:

Russia is closing every legal casino and slot-machine parlor this week, throwing hundreds of thousands of people out of work.

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#3) On June 29, 2009 at 8:38 AM, Rebkong1 (< 20) wrote:

global consolidation at its finest..shear everything down...and let the few buy up things that they dont already own cheaply...

 

 

we are headed for a DISASTER ..the government cant' and wont hold this market up for much longer

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#4) On June 29, 2009 at 11:47 AM, biotechmgr (34.71) wrote:

Good point about the gov jobs, probably the next big wave. Biotech and pharma are going to be big in next 12 months too.

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#5) On June 29, 2009 at 9:37 PM, AdirondackFund (< 20) wrote:

http://www.youtube.com/watch?v=gqsT4xnKZPg

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