62,000 jobs lost, off nearly half-million for year
Just in the past few days, Chrysler LLC said it would close a plant and Starbucks Corp. said it would shut some 600 stores in the next year, meaning more lost jobs ahead. American Airlines recently said it may cut flight attendant jobs.
When companies do have openings, job hunters are in for more competition.
"I get resumes upon resumes upon resumes when I put up job postings," said Jeff Posner, president and owner of e-ventsreg.com, a small New Jersey firm that handles registration and check-ins for trade shows.
There were 8.5 million unemployed people as of June, up from 7 million a year earlier.
Heavy job losses were reported in construction, manufacturing and financial services — the worst casualties of the housing, credit and financial debacles. Cutbacks also came in retailing, temporary help, trucking, publishing and elsewhere. That more than swamped job gains in other places including health care, education, hotels, bars and restaurants and the government.
The economy is the top concern of voters and will figure prominently in their choices for president and other elected officials come November. The faltering labor market is a source of anxiety not only for those looking for work but also for those worried about keeping their jobs during uncertain times.
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Member Comments
Posted By: phiomalibumalibu @ 06/24/2008 2:45:15 PM
Comment: Main cause of the fall of consumer confidence and the high foreclosure rate is that most american companies hire Indians to do there technical work. For the last 10 years over a million east Indians have taken American Jobs....simple...math.
Posted By: WhenStarsTurnBlue @ 06/19/2008 2:38:38 PM
Comment: The 2006 election was a way to express disapproval for the way things were being handled in Iraq. The democrats said they would get us out of there. Two years later.....hey, the democrats are saying if we elect them, they'll get us out of Iraq! Sure, why not? It worked so well the first time, right?
Posted By: trimm25 @ 06/19/2008 12:35:46 PM
Comment: For one, Bush inherited a republican congress. Also lets not forget what gas cost when Bush took office with that republican congress. It still kills me we have die hard Bush supporters out there, this guy is going to go down as the worst president ever. It is going to probably take a decade for the next president to fix all of his mistakes. But mission accomplished, gas has more than tripled since he has been in office, all of his rich buddies are laughing all the way to the bank.