Up to now we’ve been reporting job losses as they take place. We will continue to do so, often with the help of employees who notify us first. For this article I want to discuss overall job losses. We have an employment collapse that threatens to rival massive layoffs in the airline industry after Sept. 11, 2001. Approximately 100,000 employees lost their jobs.
Since the start of the year, more than 40,000 workers have lost their jobs at mortgage lending institutions, according to recent company layoff announcements and data complied by global outplacement firm Challenger, Gray & Christmas Inc. Meanwhile, construction companies have announced nearly 20,000 job cuts this year, while the National Association of Realtors expects membership rolls to decline this year for the first time in a decade.
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This article, Putting Job Losses in Perspective at 60,000 and Counting, is just one of our articles from our Mortgage Crisis Daily
The Subprime Mortgage Crisis Before, During, and After
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