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Government Layoffs Looming
Here’s some discouraging news about the direction of the economy: An economist predicts that up to 400,000 government workers could lose their jobs over the next year, because state and local governments will be laying off people en masse to close budget gaps.
According to a story in USA Today, New York City is planning 4,500 layoffs, and Washington state stands to lose 6,000 positions without an extension of extra Medicaid money from the federal government.
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And that’s 400,000 MORE public sector jobs lost on top of the many thousands of jobs we reported in our Screwed column since February 2009.