The CNBC Idiot Parade Continues
Some guy on CNBC representing one of the Job reporting companies indicated that this downturn is not affecting as many jobs as the previous one in 2001. He used the example of the airline industry laying off 100K workers as evidence for his position.
It seems this individual failed to look at the number of layoffs occuring in Real Estate this go around. In areas such as finance, construction, and sales, some states have lost over 100K jobs.
And we are still at the beginning of the cycle. Just wait until government start adjusting for the inevitable budget shortfalls.