CNN reports Companies hack away at jobs.

Downsizing was at the worse since 2002 this Summer. We know what happened in 2002. Corporations used as an excuse the recession to offshore outsource thousands upon thousands of jobs.

This time it appears to be the financial sector but the use of people as some sort of elastic expense to be discarded to boost stock price as well as take a recession and move jobs offshore is alive and well.

Businesses announce 88,736 job cuts in August, 14% below July, but cuts from May though August hit highest level in 6 years

13,000 Technology and Media jobs were cut in July, 2008 alone. Offshore outsourcing is cited as one of the reasons.

And tell me again how there is a worker shortage?