First it was construction, then financial, then manufacturing, then services and retail. Now its government and non-profit workers who depend on taxes and gifts from the other sectors that are seeing rising layoffs. These are the teachers, police and social workers who pick up the pieces when the rest of society goes blooey.
The good news is that overall, forecasters are starting to agree that layoffs are slowing down and we are getting close to the bottom on employment. The bad news is it could be a while before companies start hiring again. From John Challenger, CEO of outplacement firm Challenger, Gray & Christmas.“It could be several more months before we see hiring make a comeback, but it appears that many employers have reached the staffing levels they need to make it through the recession."