Monday | May 05, 2003
Mass layoffs on the uprise
Wasn't the end of the war supposed to spur business hiring? Instead, we have gotten this:
Job cuts announced at U.S. employers jumped in April to their highest monthly tally since November, a report showed on Monday, confirming the end of the war in Iraq did not stop companies from firing more workers.Interestingly enough, it looks like the budget crisis faced by just about every state is a big factor in the job losses.
Some 40 percent of the job cuts in April came from the public sector as state and local governments cut spending during a revenue crunch, the Challenger report said.If Bush was seriously interested in stimulating the nation's anemic economy he could pump more money to the states, thus forestalling such economy-dampening layoffs. But the grunts at the DMV aren't important to Bush.
Bush's policies help a different type of person.Posted May 05, 2003 04:05 PM | Comments (160)