“Jobs aren’t coming back,” said John E. Silvia, chief economist at Wachovia in Charlotte, N.C. “A lot of production either isn’t going to happen at all, or it’s going to happen somewhere other than the United States. There are going to be fewer stores, fewer factories, fewer financial services operations. Firms are making strategic decisions that they don’t want to be in their businesses.”
“The current pace of decline is breathtaking,” said Robert Barbera, chief economist at the research and trading firm ITG. “We are now falling at a near record rate in the postwar period and there’s been no change in the violent downward trajectory.”
I’ll give it another year before the Benedict Arnolds of US jobs start to think about THEIR jobs going bye-bye. It’s going to be odd to read posts declaring they wish they had supported US jobs BEFORE the lay-offs reached themselves.
One day we will have to riot and protest for jobs, just like they are doing in Europe. But before that can happen sentiment needs to change.
