Newsflash


As the impact of the economic crisis takes hold, employees from Wall Street to Main Street are feeling nervous about their jobs, and with good reason.

As of September, 760,000 jobs have already been lost this year, according to data from the Bureau of Labor Statistics.

And a quarter of U.S. employers expect to make layoffs in the next 12 months, according to a recent report by consulting firm Watson Wyatt.

But which industries will suffer the most? Experts say certain sectors are more vulnerable to layoffs than others.

Housing: Jobs in the housing sector were the first to go when the mortgage meltdown took hold. But with the industry outlook at an all-time low, even more layoffs could follow.

Beyond mortgage lenders and homebuilders, jobs in commercial real-estate and at real-estate agencies will be the next to go, according to Dean Baker, director of the Center for Economic and Policy Research in Washington, D.C.

With the worst September for new home sales since 1981, "some of the big [real-estate] chains will do some consolidation," Baker said, "clearly you need fewer offices," Baker said.

Finance: Few in the financial sector are feeling secure about their positions. The latest employment figures from the Department of Labor show financial firms have eliminated an estimated 110,000 jobs over the past year through September, and experts say there will be even more losses in the months ahead.

As financial firms reorganize and consolidate, there are going to be a lot more layoffs, Baker said.

"Financial services firms have cut tremendously and I don't think that's over," echoed Lee Pinkowitz, associate professor at Georgetown University McDonough School of Business.

Retail: Before the credit crunch, retailers were already struggling with soft sales as high gas prices and falling home equity forced consumers to curtail non-essential purchases. Now retail sales are dismal heading into the holiday season. "This could be the weakest holiday hiring season since 2001," said John Challenger, chief executive of global outplacement firm Challenger, Gray & Christmas, and that's not good for those employed in the retail industry.

"I doubt we'll see the pick up in seasonal hiring that we'd normally see," Pinkowitz said.

But while department stores and high-end boutiques may be particularly hard hit, discount retailers, like Wal-Mart (WMT, Fortune 500) could fare well in the current climate, Challenger said. Wal-Mart is also the nation's largest private-sector employer, and could be a safe haven for those who work there.

Publishing: As consumers cut back, advertisers follow, and that means tough times for print publications, including newspapers and magazines, experts say.

According to Bureau of Labor Statistics data, employment in the publishing industry has been contracting since the beginning of last year.

But the "grand decline" of jobs in the media industry, which also includes broadcast and digital media, began with the dot-com bust in 2001, noted Heidi Shierholz an economist at the Economic Policy Institute, a research group based in Washington. Now a loss of jobs in traditional publishing is being exacerbated, in part, by the move away from print toward digital media.

"Every time you have a recession it pushes companies that have been holding on by their fingernails out of business," Challenger said. "It clears away an old generation of companies and I think we'll see that with print."

Autos: While sales at the Big Three automakers have fallen 20% this year and are likely to tumble further, trouble in the auto sector is not confined to manufacturing. All told, about 2 million Americans work in the industry.

While declining sales will likely lead to more job losses, those in "the tentacles of the auto industry" could be particularly hard hit in the coming months, Pinkowitz said, which includes those jobs at dealerships and suppliers.

Travel: Airlines have already announced layoffs across the board, but as consumers and businesses continue to scale back discretionary spending on travel, the implications go far beyond flying.

"All the industries under the umbrella of travel are going to be at risk" Challenger said, including rental cars, hotels and even restaurants.

If people are cutting back, travel and leisure activities are the easiest things to do without, explained Baker. Big restaurant chains will close locations, he said, which means eliminating many wait staff and service jobs, while some smaller restaurants will be forced out of business entirely.

But despite the mostly doom-and-gloom predictions, some say there are some bright spots ahead for American workers.

"Even if you're in an industry where there has been some job downturns, there still can be some opportunities," said Kimberly Bishop, vice chairman of Chicago-based executive search firm Slayton Search Partners.

Bishop suggests focusing on those skills and experiences that can translate beyond the industry in which you work. There are certain roles that every organization needs, she said, and you may be able to fulfill that role in another industry that has more promise

 

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U.S. Marines Try to Retake Afghan Valley From Taliban PDF Print E-mail
Written by Admin
Wednesday, 01 July 2009
Published: July 1, 2009
 
PHOTO: US troops in Helmand Province, Afghanistan
U.S. Lt. Col. Christian Cabaniss speaks to his Marines at Camp Dwyer on July 1, 2009 in Helmand Province, Afghanistan.The Marines are part of a stepped up effort by American troops fighting Taliban fighters in Southern Afghanistan.
(Joe Raedle/Getty Images)
 

KABUL, Afghanistan — Almost 4,000 United States Marines, backed by helicopter gunships, pushed into the volatile Helmand River valley in southwestern Afghanistan early Thursday morning to try to take back the region from Taliban fighters whose control of poppy harvests and opium smuggling in Helmand provides major financing for the Afghan insurgency.

The Marine Expeditionary Brigade leading the operation represents a large number of the 21,000 additional troops that President Obama ordered to Afghanistan earlier this year amid rising violence and the Taliban’s increasing domination in much of the country. The operation is billed as the first major push in southern Afghanistan by the newly bolstered American force.

Helmand is one of the deadliest provinces in Afghanistan, where Taliban fighters have practiced a sleek, hit-and-run guerrilla warfare against the British forces who have been based there.

British troops in Helmand say they rarely get a clear shot at Taliban attackers, who ambush them with improvised explosive devices, rocket-propelled grenades and assault rifles. The explosive devices — some made with fertilizer distributed to Afghan farmers to wean them from opium production — are the most feared weapon. The Taliban favor ambushes in the morning and evening and do not often strike during the blazing afternoon heat.

In recent weeks some British troops have been setting up what are known as “blocking positions” on bridges over irrigation canals and at other locations, apparently to help stop the flow of insurgents during the main military operation and to establish greater security before the presidential election scheduled for August. The British forces, whose main base in Helmand is adjacent to the main Marine base, will continue to support the new operation.

The British have had too few troops to conduct full-scale counterinsurgency operations and have often relied on heavy aerial weapons, including bombs and helicopter gunships, to attack suspected fighters and their hide-outs. The strategy has alienated much of the population because of the potential for civilian deaths.

Now, the Marines say their new mission, dubbed Operation Khanjar, will include more troops and resources than ever before, as well as a commitment by the troops to live and patrol near population centers to ensure that residents are protected. More than 600 Afghan soldiers and police officers are also involved.

“What makes Operation Khanjar different from those that have occurred before is the massive size of the force introduced, the speed at which it will insert, and the fact that where we go we will stay, and where we stay, we will hold, build and work toward transition of all security responsibilities to Afghan forces,” the Marine commander in Helmand Province, Brig. Gen. Larry Nicholson, said in a statement released after the operation began.

The Marines will be pushing into areas where NATO and Afghan troops have not previously established a permanent presence. As part of the counterinsurgency strategy, the troops will meet with local leaders, help determine their needs and take a variety of actions to make towns and villages more secure, said Capt. Bill Pelletier, a spokesman for the Marines, according to The Associated Press.

“We do not want people of Helmand Province to see us as an enemy, we want to protect them from the enemy,” Captain Pelletier said, The A.P. reported.

The goal of the operation is to put pressure on the Taliban militants “and to show our commitment to the Afghan people that when we come in we are going to stay long enough to set up their own institutions,” he said.

The 21,000 additional American troops that Mr. Obama authorized after taking office in January almost precisely matches the original number of additional troops that President George W. Bush sent to Iraq two years ago. It will bring the overall American deployment in Afghanistan to about 60,000 troops. But Mr. Obama avoided calling it a surge and resisted sending the full reinforcements initially sought by military commanders.

Instead, Mr. Obama chose to re-evaluate troop levels at a series of specific moments over the next year, officials said. The Obama administration has said that the additional American commitment has three main strategies for denying havens for the Taliban and Al Qaeda: training Afghan security forces, supporting the weak central Afghan government in Kabul and securing the population.

In late March, Mr. Obama warned Congressional leaders that he would need more than the $50 billion in his budget for military operations and development efforts. Asked by lawmakers about the prospect of reconciliation with moderate members of the Taliban, officials said Mr. Obama replied that he wanted to sift out hard-core radicals from those who were fighting simply to earn money.

Eros Hoagland contributed reporting.

 

 

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