It’s All Relative: Why Our 6.3-ish Percent Unemployment Rate Doesn’t Look Too Bad

Economic times are tough everywhere, and here in Winston-Salem it's no different.  But as bad as it all seems as we hear about one layoff announcement after another, we've gotten off easy compared to Wilmington, Ohio:

As hard times go, this is about as hard as it
gets. The single-biggest employer in these parts is laying off about
7,500 men and women.

In a town of fewer than 13,000 people. In the midst of the worst financial crisis in generations.

"It's going to test us," says Mayor David Raizk. "The numbers are frightening."

Those numbers came in a Nov. 10 announcement by
Deutsche Post World Net, the German owner of package-delivery company
DHL. After investing five years and nearly $9 billion, DHL is
abandoning its ill-starred effort to compete in the United States with
FedEx and UPS. Winding down its U.S. business will eliminate 9,500 DHL
positions around the country plus thousands more here at the company's
local partner, ABX Air.

Ouch.


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