Bloody Monday: Over 71,400 jobs lost

CNN by Julianne Pepitone | Jan. 27, 2009 (News Report)

Seven companies announce massive job cuts in a scary start to the week.

The final week of January began with a bloodbath for the job market, as over 71,400 more cuts were announced on Monday alone. Full Story »

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by George Blahusiak - Jan. 27, 2009

Sounds terrible. Why? Because all it does is show the bare facts, but not the context. 71,000 jobs is a minuscle part of the total work force. Nothing said about the rush to downsize either. Last time companies did that they found they couldn't meet demand when it returned, so they prolonged the recession. In short, simple propaganda.