Yesterday was unlike any other with the recession hitting even harder for 70,000 more families, as major American corporations lay people off in record numbers.
It cut across many industries from Pfizer’s losses to Wyeth laying off 26,000 people, Caterpillar 20,000 people, Sprint 8,000, Home Depot 7,000, ING 7,000, Texas Instruments 3,400. It was massive, totaling in at 72,300 when all were put together.
The pressure is mounting for our new and fearless leader, President Obama. Luckily he is stepping up to the plate. Over the weekend, we saw some details surface. Of particular interest of course is the job creation part of this plan, which include creating 499,000 jobs in tourism.
In direct response to the jobs that are being lost, President Obama is suggesting that in this stimulus plan, the job creation part of it will include specifics in certain industries. Here is what was told thus far to CNN.
About, 678,000 jobs in construction, 408,000 in manufacturing, 604,000 jobs in retail. The is that, if you give some people some money back, they might actually spend it, creating more demand — 240,000 in education and health care, and 499,000 in tourism.
Theoretically, if people are feeling better and more stable, they will take vacations. Here’s hoping!
