Warning Signs
Nov 26th, 2007 at 2:27 pm by Susie
That’s a hell of a lot of people who will be out of work:
NEW YORK, Nov 26 (Reuters) - Citigroup (C.N: Quote, Profile, Research), the No. 1 U.S. bank by assets, is planning major job cuts over the coming months, CNBC television reported on Monday.
CNBC said that no exact number had yet been set, though some jobs were already being eliminated. It estimated that the cuts could total anywhere between 17,000 and 45,000.
I mean, can we call it a recession yet?
Unemployment is below 5% so I doubt it.
The economy is well and truly fucked, and hasn’t hit bottom yet.
Ooops, didn’t see Wendy’s note.
Official unemployment figures are about as believable as Ohio
ballot counts and Larry Craig men’s room explanations.
The unemployment figures I don’t believe include those who have exhausted benefits and thus are off the radar for the states. The real number is higher.
That said I’m working right now in a temp job trying to get people to work at a department store in a mall for the holidays and it’s hard to get takers. Now I wouldn’t say this is a sign of low unemployment since I’ve had a lot of people who are looking for more than seasonal jobs and that’s all the store is offering right now.