Tapsearch Com EditorWorking poor hitting bottom - as more jobs are lost (LINK)
February 6th 2008 21:09
Bizarre Politics Reports:
Working poor hit breaking point
Based on Associated Press story by Anne D'Innocenzio and business page reports
Free Traders in the USA, tell us a major part of the manufacturing sector has been outsourced to other countries and the U.S. workers have to come up to speed. They tell us the USA is more competitive in the high tech and service sectors but most of these jobs are now moving out of the USA too.
In January, the bell tolled again as many lost their jobs in other areas too. Even the Red Cross is cutting about a 1,000 jobs. About 1000 will lose their jobs at Yahoo. The banks have cut thousands in the past few months. National City cut 900 in January. Citigroup reports nearly a $10 billions lost for the quarter. 2,403 will lose their jobs at mortgage lender IndyMac. Applied Material, a major supplier fo computer chip-making equipment is cutting 1,000 jobs. This is after they cut 1,750 workers in November 2002. Sprint cuts 4,000 jobs and is closing 125 retail stores.
Feb 2008- Diebold, ATM/Voting machines , to slash 800 jobs worldwide. Macy's Inc department stores cut 2,300 jobs. Schulman, plastics for autos, closing and selling plants.
News outlets report they are outsourcing their design jobs to cut costs. Time Inc - Time, People, Sports Illustrated, will also cut 150 people.
Fidelity Investment ( Mutual Funds ) is cuting 250 jobs ) Sandisk- memory cards, data storage etc is cutting 250 or 20 percent of its workforce.
Cell Therapeutics - particle physic lab - is cutting 225 workers.
These were the jobs that were supposed to replace the factory jobs.
Across the nation, Americans are increasingly unable to stretch their dollarst to the next payday as they juggle higher food and energy bills. It's starting to affect middle class workers as well as the poor.
--- The New Surge in a new kind of war ---
Food Pantries, which distribute food items to the needy are reporting severe shortages while there is a surge of new people seeking their help. Retailers from Family Dollar to Wal-Mart, are adjusting their product mix and pricing to fit the new economic storm. Many consumers are cutting spending on nutritious foods like milk and vegtables. Many others are skimping on basic medical and other critical services.
The BedStuy Campaign against Hunger, a church affiliated food pantry in Brooklyn, struggles to feed 5,000 new families - up almost 70 percent from 3,000 the year before.
In the past few months, the pantry has seen more clients in the higher paying jobs line up fo food. The American Red Cross Food Pantry in Boston, reported a 30 percent increase in people seeking food.
This is how it is as the Free Traders call for more of the same. It is The New Surge in a new kind of war in our economic storm.
Free Traders in the USA, tell us a major part of the manufacturing sector has been outsourced to other countries and the U.S. workers have to come up to speed. They tell us the USA is more competitive in the high tech and service sectors but most of these jobs are now moving out of the USA too.
In January, the bell tolled again as many lost their jobs in other areas too. Even the Red Cross is cutting about a 1,000 jobs. About 1000 will lose their jobs at Yahoo. The banks have cut thousands in the past few months. National City cut 900 in January. Citigroup reports nearly a $10 billions lost for the quarter. 2,403 will lose their jobs at mortgage lender IndyMac. Applied Material, a major supplier fo computer chip-making equipment is cutting 1,000 jobs. This is after they cut 1,750 workers in November 2002. Sprint cuts 4,000 jobs and is closing 125 retail stores.
Feb 2008- Diebold, ATM/Voting machines , to slash 800 jobs worldwide. Macy's Inc department stores cut 2,300 jobs. Schulman, plastics for autos, closing and selling plants.
News outlets report they are outsourcing their design jobs to cut costs. Time Inc - Time, People, Sports Illustrated, will also cut 150 people.
Fidelity Investment ( Mutual Funds ) is cuting 250 jobs ) Sandisk- memory cards, data storage etc is cutting 250 or 20 percent of its workforce.
Cell Therapeutics - particle physic lab - is cutting 225 workers.
These were the jobs that were supposed to replace the factory jobs.
Across the nation, Americans are increasingly unable to stretch their dollarst to the next payday as they juggle higher food and energy bills. It's starting to affect middle class workers as well as the poor.
--- The New Surge in a new kind of war ---
Food Pantries, which distribute food items to the needy are reporting severe shortages while there is a surge of new people seeking their help. Retailers from Family Dollar to Wal-Mart, are adjusting their product mix and pricing to fit the new economic storm. Many consumers are cutting spending on nutritious foods like milk and vegtables. Many others are skimping on basic medical and other critical services.
The BedStuy Campaign against Hunger, a church affiliated food pantry in Brooklyn, struggles to feed 5,000 new families - up almost 70 percent from 3,000 the year before.
In the past few months, the pantry has seen more clients in the higher paying jobs line up fo food. The American Red Cross Food Pantry in Boston, reported a 30 percent increase in people seeking food.
This is how it is as the Free Traders call for more of the same. It is The New Surge in a new kind of war in our economic storm.
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