Where the Job Losses Are
Categories: Career News, Employment Updates | November 30th, 2009 | by Administrator | no comments
Most of us are already aware of the state of the economy in general and the employment market in particular. But the question that remains is, where are the job losses? According to TheCareerNews.com, the sectors that have been greatly affected by the recent economic downturns include construction, manufacturing, business services and retail. For instance, the construction industry alone cut 51,000 jobs last month.
Factory workers in companies manufacturing furniture and wood products also saw the lost of around 48,000 jobs last month. On the other hand, the business services sector lost some 35,000 workers while the retail industry has been hit the lightest with job cuts of only 12,400.
Slowdown in sales is said to be the main cause of job losses and this is attributed to the impact of sub-prime mortgage crisis on consumer spending. For the link to the article, click here.
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