Job loss news continues to be bad

Everywhere I turn at the moment there is more and more talk of job losses! it does not seem to matter what your industry is jobs are disappearing quicker that most news rooms can report on them. A quick round up:

The average job line might soon look like this.

Finding a job

Not only are jobs being lost but at the end of October it was estimated that $1 billion per day was being lost from our retirement savings.

But wait all is not doom and gloom, if you are a CEO your salary rose by 96% in the last six years vs the workers you are now sacking their pay packet only went up by an average of 32%. The average CEO now makes around $5 million per annum or $96,000 per week. In other positive news Indian outsourcer Tata is still hiring about 100 people a year.

How inspiring! Time for a coffee, or maybe a stiff drink!

One thought on “Job loss news continues to be bad

  1. Unfortunately things may get a lot worse before they get better. I’m not sure if you are aware but about 50% of all car dealerships in Australia have to find new finance for their floor stock before Dec 31, due to GE and GMAC pulling out of the Australian market. Without replacement finance most of these dealerships will have to close their doors. Potential job losses – circa 40,000 nationally.

    It’s also looking like GM itself may go belly up unless they get government support (in the US). The ramifications of that don’t bear thinking about.

    There is of course the Republican view that dinosaurs like GM should be allowed to fail and propping them up is only delaying the inevitable. Likewise here in Australia, I have heard one view that we’re not going to need all those car dealerships next year .

    It’s important to remember that life still goes on, even in a recession 🙂

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