Reuters: UPDATE U.S. workers feel pain as jobless ranks grow

[Omaha Steve]

http://www.reuters.com/article/companyNewsAndPR/idUSN0432570720090604

Thu Jun 4, 2009 8:57am EDT

* Auto industry upheaval threatens thousands of jobs

* Cautious employers may add new jobs slowly in recovery (Adds jobless claims last week, paragraph 9)

By Andrew Stern

CHICAGO, June 4 (Reuters) - Jamie Laird had hoped to retire comfortably some day from the machinist's job he has held for 30 years, but his western Illinois manufacturing plant is closing and he now fears for his family's economic future.

"Everything's up in the air. You've got a paycheck coming in every week, then you don't. It's scary," said the 48-year-old, who worries about supporting his wife and two daughters after he loses his $36,000 in yearly earnings.

"The bad thing about it is there is no jobs around here. Equivalent to what I'm making now, there's nothing. I don't know what I'm going to do, to tell you the truth," Laird said.

He and 100 co-workers were notified that Quad City Die Casting will shut next month after 60 years in business, a move attributed in part to slumping market demand. The Moline, Illinois, firm makes parts for motorcycles, escalators and playground equipment.

"They sent us a certified letter saying that they were going to close July 12th. I haven't heard a whole bunch about why. I was totally shocked. I thought I would retire from there," Laird said.

The scene in Illinois -- companies laying off workers, announcing furloughs, reducing work hours or going out of business -- is occurring across the United States, where 5.7 million jobs have evaporated since the recession began in December 2007.

FULL story at link.

[JDPriestly]

1. Obama gave a good speech in Cairo, but how dare he promise

money to people in other countries when Americans don't have jobs. Where is that money going to come from when Americans aren't working and can't pay taxes anymore? Where is the logic in this. Instead of bailing out banks, Obama should be supporting businesses that provide jobs IN AMERICA. We don't need to employ Pakistanis or Afghanis. We need to employ Americans.