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Housing jobs disappearing fast
It's been a while since one industry has seen so many job losses, so quickly. In the past week, mortgage lenders have laid off more than 12,000 people. Yesterday, Lehman Brothers closed its subprime business. Accredited Home Lenders shut down 65 branches. HSBC closed an office. For the year, we're talking 40,000 jobs so far, according to Challenger, Gray and Christmas. The last time we saw something like this was after 9/11 when some 100,000 airline employees lost their jobs.
Posted on August 23, 2007 6:49 AM PT | Permalink
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