GM’s blow to the economy
November 21, 2005GM announced they plan to cut 30,000 hourly jobs in the next few years. That has to be an impact on the economy–we keep hearing there’s a recovery but when 30,000 good-paying jobs vanishes that has direct and indirect psychological impacts.
Coming just as the Christmas shopping season begins, I’m betting this will act as a damper on consumers. So many people will be worried about whether their job is next.
Makes me wonder too. I mean, my employer has been doing quite well of late and the division I work for has been doing really well. But can that keep up if the overall economy turns south?
TrackBack URI