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Issue: July 20th 2003 |
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NWI Insights - Unemployment in the US hits managers and executives hardLast week a story on NWI by CBS reported that the downturn in the US economy has now started to affect a different section of the community, the managers and executives. In Lake Forest, California a networking group has been set up for unemployed professionals to meet and try and locate possibilities for work. The report explained that the same economic forces which have been hitting blue collar workers hard has now turned to the white collar employees. In the report, an executive headhunter confirmed that the market is "horrible" right now and there are an excess of executives on the street. In the US, 9 million people are unemployed and now 17% of these are from the managerial sector. In an interview, one individual from higher management explained how he had voluntarily left his $300,000 a year job eighteen months ago to look for something more fulfilling. Unfortunately it was really bad timing and now he is unable to find work. Usually he explained, he would have had many phone calls and little trouble finding a new position. He contended that right now there is a huge amount of unemployed talent and that this is a result of the present economy. This extract forms part of just one of the many insightful news features presented on the 24 hour news network Newsworld International (NWI). If you would like further information or are interested in subscribing to NWI, visit their website at http://www.nwitv.com or telephone their subscription service on 1-800-280-4388. For further NWI insights, visit News Views archives. |
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