Thursday, December 3, 2009

Jobs Data: The U.S. West is Deteriorating

Credit Writedowns has a good article discussing Gallup data on the national job situation.

The west is getting worse. Anecdotal evidence illustrates the trend across the nation. Yesterday, Open Text, a technology company, eliminated 8% of their national workforce. Open Text is doing well. Why are they eliminating such a significant percentage of their workforce?

Today on the radio I heard that the state of Arizona has depleted its line of credit from Bank of America. The state drew down the last of its credit line making a payment to k-12 education in the state. The state is insolvent. Government jobs are going to be eliminated.

We are in a deflationary spiral, headed for collapse.

What if the U.S. were to re-deploy all U.S. soldiers in Afghanistan and Iraq in the U.S. to repair roads, bridges, schools, and parks. There would still be plenty of money left to hire unemployed Americans to clean up and repair the nation.

1 comment:

  1. Hi Majia,
    I was interested in finding out your source of the Open Text workforce reduction. I've searched and searched and I wasn't able to see it announced anywhere. What am I missing?


Note: Only a member of this blog may post a comment.