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Two separate reports show that monthly layoffs are at their highest level in almost seven years. CNBC reports that outplacement firm Challenger Gray & Christmas cites November job losses to be "181,671, up 61% from October and 148% higher than November 2007" while payroll company ADP says November job cuts were around 250,000. (Back in January 2002, layoffs were at 248,475.) And more are coming: In its takeover of Merrill Lynch, Bank of America may cut up to 30,000 jobs (they will cut at least 10,000), through layoffs, attrition, and sales of business units. With that news, stock futures are down.
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Whaddya mean, there's no freaking Santa Claus, daddy?
i hear the 'internship' market is doing well
The intership market is one of the reasons why unemployment is so high, instead of hiring paid professionals they go for unpaid inexperienced students.
Why? To help them out? Nah, to cut cost" :::ding, ding!::::::
Burn baby burn!