Unemployment is a serious concern for anyone in this broken economy. In simple terms, if you don't have a job, you can't pay your bills and you don't spend money at local retailers. Retailers who face decreased sales can't afford to repay business loans, pay for health care for their employees and sometimes can't even make payroll. Almost $165 billion in U.S. commercial real estate [shops, offices, hotels, apartment buildings and land] loans will mature this year and need to be sold or refinanced as rents and occupancies fall, according to First American CoreLogic. Personally I don't understand how a "jobless recovery" can turn the country around. The only people a jobless recovery could possible benefit would be bankers. The ordinary consumer doesn't benefit and continues to struggle.
Verizon 2Q profit falls, tops view, plans job cuts
By PETER SVENSSON
(AP)
–
1 hour ago
NEW YORK — Verizon Communications Inc., the nation's largest wireless carrier, said Monday its second-quarter profit fell 21 percent as cost-cutting in its wireline business failed to keep pace with falling revenues.
The company will be cutting more than 8,000 employee and contractor jobs before the end of the year in the wireline business, speeding up its efforts to keep costs in line, according to chief financial officer John Killian.
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