The Register® — Biting the hand that feeds IT

* US IT outfits slice 34,800 jobs

John H Woods

so near 

if only it had been 38400, much more appropriate to an IT job cut.

Anonymous Coward

It's only going to get worse 

In the U.S. over 600,000 U.S. jobs are being lost every single month and it's going to get worse. Next month they'll start counting the lost jobs in the U.S. auto industry and it will be staggering. GM just announced today they are cutting another 4,000 whire collar jobs on top of the previous cuts. The auto industry buys tons of PCs, or they did until the crap hit the fan. IT is gonna suffer big time now.

Anonymous Coward

ITs not lost jobs. 

It is that damn outsourcing.

I know someone nearly lost their job last week because the company found out they can hire two thias at half the price.

Anonymous Coward

33% unemployment rate 

How does that break down then?

306 million people. 20% under 20 leaves 12.4% over 65, so about 100 million too old or young to work.

So that leaves about 200 million who can work and only 132 million who do work.... about 33% unemployment rate?

WhatWasThat?

@33% unemployment rate 

Alert

Are you _kidding_?!

What makes you think that being over 65 means that you don't have to work? Over 50% of "yoof" over age of work (16 in most states) do "have jobs", even if they are 5-10 hours a week at McDon@ld's. Likewise, even those over 65 have found that Social Security simply will not pay a living stipend for all the money invested in it over the years. And with 401K's wiped out, there is little alternative to continue working.

Remember, all that money did not instamagically "disappear" - the reason those funds lost money was because it had to be paid to someone... The question is, who got all the money if it wasn't the banks, eh?

Anonymous Coward

@JHW 

yeah man, i thought exactly the same thing.

maybe we can petition someone...

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