Saturday, July 5, 2008

The Ailing, Failing US Economy hits City and State Employees

Always considered "safe employment", state and city employees could get caught in the next round of layoffs. Falling revenues from sales tax, income tax and and real estate taxes led Bob Brusca, Economist with FAO Economics in NY to say in a CNN Mondy article, "This isn't a wrecking ball to a healthy economy, but it could be the straw that broke the camel's back."

States planning to cut jobs include Tennesse,2000 positions; New Jersey, 3000 jobs; Ohio, 2700 jobs and Detroit, 1300 jobs.

The first 6 months of 2008 has seen the US economy lose almost a half million jobs. The report in June brought the number of job losses for the year to 438,000. Job losses were expected and have ocurred in:

Manufacturing - 33 000 jobs
Construction - 43 000 jobs
Retail - 7 500 jobs
Business and Professional Services - 51 000 jobs

If you are in any of these sectors you should be scanning the environment for pending changes and strategizing to be ready if you are forced to make a career change after a lay off.

Find more information here:
- Ways to Keep Learning as Your Company Falls Apart
- Times are Tough. Can You Still Find the Right Job?
- US Economy Loses 63 000 jobs in February

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