Market surges on cost cutting as the “recession” deepens.
By Daniel at 22 October, 2009, 9:09 am
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Layoff news from the Journal of Commerce on railroads:
“Rails Cut Jobs to New Low in September
John D. Boyd | Oct 21, 2009 4:20PM GMT
The Journal of Commerce Online - News Story
…..Labor force at lowest level since recession started
…..Jobs at major U.S. railroads got scarcer from mid-August to mid-September than at any other point in the recession so far.
…..The seven largest railroads said in filings to the Surface Transportation Board that they employed 149,428 people halfway through last month, down from 150,064 in August and 150,400 at mid-July.
…..The latest work force level for U.S. operations of the Class I carriers was down by nearly 13,000 from the 162,303 they carried on the payroll in mid-September 2008. The past year’s rail employment peaked last October at 164,025, but has since fallen every month except for a slight increase in July.”
Wonderful news as the “recession” deepens. Market surges on cost cutting! Of course, if nothing is moving, no one is buying. The future is dim.
- irishscot2
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