Wednesday, July 20, 2011

NC is going to lay off about 11,000 workers, not counting local governments.

Let's say 20,000 jobs get cut in NC over the next six months.

x 50 other states = at least 1,000,000 job losses in short order?

How can the housing market recover as job losses mount?

Then add in the fed debt limit deal, which could be 3 to 4 trillion over 10 years.

If 3 trillion, that's maybe $150 to 250 billion in the first year,
because they most likely will backload many of the most painful cuts.

For each $100 billion cut, that's probably about 1.3 million more jobs lost.

So it looks like we could lose another 2.3 million jobs inside of 12 months.

Not counting any multiplier effects.


No comments: