38,000 mortgage jobs lost

This article was originally on a blog post platform and may be missing photos, graphics or links. See About archive blog posts.

A solid piece of quick enterprise reporting from the AP this afternoon: ‘Since the start of the year, more than 38,000 workers have lost their jobs at mortgage lending institutions, according to recent company layoff announcements and data complied by global outplacement firm Challenger, Gray & Christmas Inc.’

The AP also includes 20,000 job cuts in the construction business, plus the expectation that thousands of real estate agents will lose their jobs, and concludes, ‘It’s an employment collapse that threatens to rival the massive layoffs in the airline industry that followed the Sept. 11, 2001, terrorist attacks, when some 100,000 employees lost their jobs.’

Tough stuff. Your thoughts? Insights?
Hat tip: Investorguy