A broad array of businesses across the New York region have begun eliminating jobs by the thousands as the pain of the financial crisis spreads well beyond Wall Street, according to a report in the New York Times.
The report said companies including Yahoo, American Express, Time and Swissport Cargo Services at Kennedy International Airport say they are preparing to lay off employees, including online ad sales representatives, magazine editors and baggage handlers. Economists and labor-market analysts predict that the cuts will be part of a large wave of pink slips that is expected to drive up the city’s unemployment rate and strain the state’s unemployment insurance fund.
In the week that ended Oct. 11 — the latest week for which data is available — New York led all states with an increase of 5,224 first-time unemployment claims.
Law firms are shrinking and publishing companies, which employ about 54,000 people in the city, announced layoffs of about 880 employees this week. Other service businesses, like consulting, catering and tourism, are almost certain to follow suit, said James Brown, who analyzes the city’s job market for the New York State Department of Labor.
(Source: NY Times)
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2 Responses
There is no surprise here. Just blame Franklin Raines the former head of Freddie Mac and Fannie Mae who is now a high level advisor and organizer for Barack Obama.
And just wait for nfgo, a paid operative for the Obama campaign. I just was listening to the Rush Limbaugh show. He was reading a blog that is part of a website run by former Hillary supporters. One woman who calls herself Sarah P. wrote how people were hired and their whole job is to study the Internet and read blogs of other websites and when someone writes something criticizing Obama, they attack them.
So therefore nfgo, Barack Obama is an Anti-Semite because he sat for twenty years is Reverend Jeremiah Wright’s church listening to the “Reverend” attack Israel claiming the Israelis were terrorizing the Palestinians. Go to YouTube and check out the video. Put that in your pipe and smoke it nfgo!!!!
rebshalom, I should let you know that Rush Limbaugh has many friends inside the yeshiva community. He has been a consistent defender of Israel and wonderful, articulate defender of frum yidden. Got a problem with that? Or, maybe you perceive him has a threat to your Food Stamps and Medicaid?