The Associated Press reports that despite the $17.4 billion lifeline given to automakers last week, GM is still laying off 1,080 workers on Tuesday. So far, GM has sent 11,000 American workers to the unemployment line and that’s just in 2008 alone. For decades automakers such as GM have employed tens of thousands of Americans and helped ordinary workers become homeowners, send their kids to college and provided steady employment even in rough economic times. But, with automakers facing bankruptcy it seems that steady relationship with the ordinary American worker is coming to an end. Many of those workers have not prepared themselves for what seems to be an inevitable round of massive job losses in the nearly bankrupt auto industry. Many of these workers are just now (after being laid off) considering updating their skills so that they can find other employment in some of the more stable and even growing sectors such as healthcare; but is it too little too late? How will they pay their mortgages and other debts and avoid bankruptcy while they return to college to earn a 4 year degree?

Many of these workers don’t have that much time, if like most; they have worked for GM or some of the other automakers for 20 years or more. What will happen to the wealth that these workers accumulated as they struggle to find employment in a world where their specialized skills provide little value? What will happen to the future wealth of these workers that many other businesses depended on? The reality is that some of these workers are the same people who purchased the cars that were made in these factories and bought the homes that fueled the real estate boom. The government needs to take action to make sure that these workers facing job losses are able to easily preserve their wealth through bankruptcy or other mechanisms while they prepare to reenter a drastically changed economic landscape.

A little more than 394,000 employees work for U.S. passenger airlines, that’s the lowest amount in 15 years, according to the federal government. Airlines in the U.S. have experienced record job losses and plan to cut even more employees in an effort to stave off financial trouble. According the Bureau of Transportation Statistics, job losses are effecting all types of airlines, including major network carriers, low-cost carriers and regional airlines with American Airlines and United showing the largest numbers of job losses. United cut 5,200 jobs, 9.9% of its workforce, while American sent 2,900 workers to the unemployment line. And the job losses won’t stop there with carriers announcing more job cuts in the future. United announced that it would eliminate 7,000 jobs while American, expected more than 6,500 job losses.

These job losses will be even more painful for the economy because many workers at airlines are specialized employees whose training is suited only for the airline industry. It is more difficult for specialized workers to find work in the general economy especially if their industry is cutting jobs across the board. This means many of those workers experiencing job losses at airlines will find themselves unable to find new work (at decent wages), pay their debts, mortgages and may be forced to file bankruptcy or face foreclosure. If you’re an employee in a specialized field and fear your job may be at risk, make an effort to diversify your skill set.

Another sign of the times for the American worker–American Airlines contract negotiations with the union representing ground workers has come to a standstill. American Airlines has not been able to come to an agreement with the union representing over 12,000 bag handlers, instructors, simulator technicians, and storage clerks this past week. Because of several days of failed contract negotiations the union has requested that a federal mediator step into the contract talks.

As job losses rise and the amount of unemployed workers searching for jobs increases, many companies are feeling less pressure to bow to the demands of unionized workers. Many “ordinary” workers aren’t too concerned about this phenomenon; but this dynamic could spell trouble for those Americans who have experienced job losses and even for those who are fully employed. Unions help negotiate decent pay for labor, even unskilled workers and are important to insuring that wages remain high for all workers. Now, that the economy is shaky and many Americans fear job losses, companies may attempt to suppress or even decrease wages, tightening the already limited budget of the American worker. Keep an eye on union contract negotiations; they are an indicator of how much leverage the non-union worker will have as job losses continue to increase and the economy cycles through this recession.

Workers laid off by the closure the Republic Doors and Windows plant in Illinois have been staging a sit-in since the company laid them off with only three days notice. The 200 unemployed workers said they were entitled to 60 days notice according to their union contract. After negotiations and plenty of bad publicity, Bank of America has offered to loan money to the now defunct Republic Doors and Windows so that they can pay the laid off workers severance and holiday pay. Republic Doors and Windows said that they wanted to give the workers more notice including pay; but Bank of America refused to allow them to spend any more money and abruptly cut off their line of credit. The loans still have not been finalized and the unemployed workers have refused to vacate the plant until the loans are officially approved.

Because of this tumultuous economy, we need to immediately put in place in Dallas-Fort Worth laws that will prevent this from happening here to unemployed workers. Three days notice is not enough for people to make plans for how they are going to pay their mortgage, utilities, buy food and care for their children. There needs to be some type of safeguard that will protect workers and our communities from this type of abrupt action by companies.

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On Friday, the Labor Department released a report stating that employers slashed more than 533,000 jobs during November sending the unemployment rate skyrocketing to 6.7 percent. That’s the highest number of job losses in 34 years. The current unemployment rate does not include over 422,000 people who experienced job losses; but gave up looking for employment. Last year the jobless rate was only 4.7 percent.

This number of job losses is extremely alarming! It’s proof that many companies are reacting fast and without hesitation to the troubles facing the economy by shedding jobs in large numbers. Also, many homeowners who have experienced job losses are joining the ranks of those facing imminent foreclosure. According to the Mortgage Bankers Association, as of September 2008, 1 out of every 10 American homeowners are at least one month behind on their mortgage payments or already facing foreclosure. We can expect to see large numbers of homeowners and even renters considering bankruptcy in the coming months as it becomes nearly impossible to find new employment in a reasonable amount of time.

It is so important that we keep our eyes on these job losses because it is a sign that all is not right on the financial home front of this country. When the biggest names in business, Houghton Mifflin Harcourt, AT&T, Random House, Inc. HarperCollins and Pearson begin mass layoffs and freezing wages, that’s when we know we need to get our own financial house in order.

According to The Dallas Morning News, Random House is consolidating its business which will cause more job losses. Pearson is freezing wages of all employees worldwide who earn $50,000 or more. Other big businesses are also experiencing job losses. That means more pressure on families, consumers, budgets and the ability to pay for mortgages, credit card bills and even taxes.

How many people do you know who can afford to have their wages frozen? Many ordinary Americans depend on those small yearly increases just to make ends meet. How many people do you know who are just one or two paychecks away from bankruptcy? Or worst? Now is the time to make an assessment of your financial house. If you experienced a job loss today, how long would you be able to pay your mortgage? How long could you avoid foreclosure? If you answered a month or two and you have large amounts of debt, you may want to consider your bankruptcy options or at least credit counseling before a crisis hits. This is not the time or economic environment to take risks with your financial future. Use the tools available now, to help build a sufficient financial safety net for you and your family.

AT&T Inc. the Dallas-based telecommunications firm has joined the ranks of companies reporting job cuts. On Thursday they announced that they will eliminate 12,000 jobs, approximately 4 percent of their workforce starting this month and continuing through 2009. AT&T, which has 300,000 employees recently laid off 4,000 workers last April and stated that this round of layoffs would be companywide and affect all parts of the country, including Dallas-Fort Worth. AT&T officials said that the laid off workers will receive severance according to their contracts.

AT&T’s landline business has been declining steadily over the years as many customers have dropped their landline services and opted for wireless instead. But this isn’t just about customers switching the type of services they use. AT&T is another behemoth corporation (just like the automakers) who has refused to adapt to change. Now it is the ordinary worker who suffers job losses. It may be only a matter of time before we hear about AT&T considering bankruptcy.

Joblessness is increasing rapidly throughout the Dallas- Fort Worth area and around the country prompting an emergency extension of unemployment benefits. On November 26, 2008, The Texas Workforce commission (TWC) announced that they will be notifying jobless claimants that they may qualify for seven additional weeks of unemployment benefits. Jobless claimants in Texas can request an extension of their benefits at http://www.twc.state.tx.us/ui/paymentrequest.html.

Prompted by rising and extended joblessness President Bush approved legislation extending seven weeks of emergency unemployment benefits to the jobless who have used all of their benefits and are still unable to find employment. The emergency unemployment benefits are being funded by the Federal government and employers will not be charged for any claims paid on the extension.

This is a great opportunity for Dallas-Fort Worth jobless residents facing prolonged unemployment to take action about their financial situation. Many of the jobless still have mortgages, car loans and credit card payments to make despite having no income. This is the time to consider a Chapter 7 bankruptcy if you are unemployed and have been that way for an extended amount of time. Talk to your Dallas- Fort Worth bankruptcy attorney who you can file Chapter 7 bankruptcy as a jobless debtor.

The Wells Fargo Home and Consumer Finance Group plans to layoff 67 Dallas area employees at its automotive-finance facility starting January 10, 2009. The Wells Fargo layoffs are the latest causality in a weakening economy that has been battered by job losses, the credit crunch and a wave of foreclosures. According to a letter sent to the Texas Workforce Commission, Wells Fargo is laying off the 67 Dallas area employees because they expect a permanent plant closure of the entire facility. According to Wells Fargo the job losses are necessary because the amount of loans being issued is shrinking making those jobs unnecessary. Most of the employees affected by the job losses are expected to receive "generous" severance packages that may include benefits based on their years of service and job classification at the company.

The job losses hitting the Dallas-Fort Worth area are unfortunate and are definitely not helping the economic environment faced by other businesses such as retailers who depend on employees spending during the holiday season. What we need now is a proactive program to extend unemployment benefits for laid off workers such as those at Wells Fargo, because the unemployment cycle is becoming longer and more difficult.

Auto companies facing possible job losses and sinking profits, such as General Motors Corp., Ford Motor Co. and Chrysler LLC asked congress for as much as $25 billion in emergency loans from the financial industry bailout. Opponents of an auto industry bailout describe the automakers as dinosaurs who have failed to adapt to global changes unlike their foreign competitors. Opponents of any bailout say that although millions of workers may be laid off if the automakers don’t improve their financial picture; the job losses are inevitable because many American automakers’ operations are bloated and inefficient. The White House has an alternative financial bailout plan for automakers to avert new job losses. The White House plan would allow automakers to take $25 billion in loans previously approved for developing fuel-efficient vehicles and use that money for their immediate needs.

I think the opponents of the auto industry bailout have a good point. Unfortunately American automakers are being forced to sustain job losses and profit losses because they have failed to adapt to a rapidly changing marketplace. Using money earmarked for developing new fuel efficient technology is a huge mistake; robbing Peter to pay Paul will not save millions of jobs in the American auto industry. Job losses are unfortunately unavoidable and those workers must be retrained for a new and improved American auto industry.

As the nation face’s one of the toughest economic crises in recent history, the country is experiencing another round of layoffs. Over 240,000 jobs were cut in October, raising the country’s unemployment rate to a 14-year high of 6.5 percent according to a report released by the Labor Department. The current unemployment rate is higher than the unemployment rate during the recession in 2001. With October’s job losses, this is the 10 th consecutive month of layoffs. In September, companies cut 127,000 jobs and in October, they cut another 284,000 jobs in an effort to put their balance sheets into the black as the economy falters. So far. 2008 has seen 1.2 million jobs lost sending the unemployment rate soaring above what anyone has experienced within the past 10 years. Currently, there are 10.1 million unemployed Americans and those unemployment numbers do not include workers who have given up on finding jobs.

Jobs lost this year include 90,000 jobs in factories, 49,000 jobs in the construction industry, retailer job layoffs of 38,000 and 45,000 white collar workers sent to the unemployment line. In Texas, Fidelity Investments plans to cut an undisclosed number of workers.

Although the economy has gained jobs especially in the service, government and healthcare industry, the job losses heavily outnumber the gains, leaving many white and blue collar workers unemployed for extended periods of time.

Many experts predict the jobless rate to climb as high as 10% mimicking the financial environment of the 1980’s.

Circuit City announced on Monday that it is shutting down 20% of its U.S. stores and laying off 17% of its workforce by December 31, 2008. The move comes as the company experiences its 2nd quarter of losses this year with a 13% decline in sales in September. By closing 155 of its stores, including 9 in Texas and 3 in the Dallas-Fort Worth area, Circuit City hopes to balance its books. The job losses are just the latest in a string of company layoffs in the Dallas-Fort Worth area. With job losses mounting this fast, it’s doubtful that the economy is resilient enough to replace the jobs at this rate of loss.

According to an article in the Star-Telegram Dallas-Fort Worth residents are facing massive job losses again. Bell Helicopter is cutting 500 jobs after losing a big defense contract with the U.S. Army. The Pentagon decided to cancel the Army’s $5 billion-plus contract with Bell to develop the ARH-70A Armed Reconnaissance Helicopter earlier this month. The layoffs began this Tuesday, right on the heels of other major layoffs in the Dallas- Fort Worth area.

Bell Helicopter plans to layoff employees on all levels, including 40 upper-management positions and a large number of engineers, marketing employees and other white-collar workers. Only 20 manufacturing workers will experience job losses.

The job losses will leave 6,500 employees at Bell’s Fort Worth plants and offices and 11,000 worldwide.

The U.S. Treasury Department ended negotiations today with automakers who want government financing for a merger between General Motors and Chrysler. The U.S. Treasury Department is hesitant about investing billions of dollars of taxpayer’s money into a merger that will cause over 90,000 layoffs in the auto industry. Cerberus Capital Management (owner of Chrysler) and GM have been negotiating for weeks but the merger is delayed because of a lack of financing as credit availability dries up. Chrysler and GM are looking at other government institutions for financial assistance.

It’s amazing that automakers have the guts to ask taxpayers for money for a merger that will literally eliminate 90,000 taxpayer’s jobs. Oh the irony. It makes absolutely no financial sense for the government to invest in a deal that will decrease its own revenue by reducing the income of 90,000 taxpayers.

According to a story by the Star Telegram Dallas-Fort Worth’s job losses grow as Texas Health Resources lays off 49 healthcare workers throughout Texas. Texas Health Resources, which operates 13 hospitals and employs more than 18,000 people, says the layoffs were caused by a drop in the number of people seeking medical care because of the economic recession. According to Texas Health Resources, people are delaying non-urgent medical tests and elective surgeries because of rising health insurance premiums and deductibles that often surpass most consumers’ ability to pay. Texas Health resources also reports stagnant growth this year for the company. According to Texas Health Resources media relations, the nonprofit company is serving the same number of people as they served in 2007.

Under a plan approved on Thursday, nearly 1100 Dallas School District employees will find themselves jobless by the end of this month. Over 500 teachers, including those teaching core subject such as math, science, social studies and English/language arts are included in the massive layoff. In addition, 500 administrative employees, including teacher aides, hall monitors and clerks will be let go as the school district desperately attempts to balance its $84 million budget deficit. But even with these cuts, along with a $38 million reduction in non-personnel budgets, the Dallas School District is still facing an $18 million hole.

According to the Dallas Morning News, two top administrators will travel to Austin next week to persuade state officials to pay approximately 300 teachers with federal grant money.

According to the U.S. Labor Department new unemployment benefits claims jumped last week to their highest levels in seven years. The departments report stated that new requests for jobless benefits for the week of Sept. 20th increased by 32,000, much higher than expectations. Experts claim that the elevated jobless rates are due mostly to the effects of the recent hurricanes.

But even without the hurricanes, jobless claims remain higher than usual. Weekly claims have now surpassed 400,000 for ten straight weeks. This is clearly a sign of an economic recession. Just a year ago, claims were steady at 309,000. The Labor Department’s most recent report is a clear warning that there is a serious deterioration in the job market. This increase in the jobless rate will most likely accelerate as the distressed markets continue to experience severe corrections and credit becomes even more difficult to access for businesses.