Pink Slips To Deposit Slips

The biggest increase in job cuts in the last 5 years was reported for February, according to Friday's Labor Department Employment Report. Many industries were hit hard except for the few like health care. Job cut numbers include:

• manufacturing - 52,000 jobs
• retail - 34,000
• temp agencies - 28,000
• construction - 39,000

There is often no stronger feeling of uncertainty during employment than waiting for the axe to fall as companies announce job cuts. Shareholders often reward corporate layoffs looking for a boost in profits. The greater toll is taken on the downsized employees and families impacted by the decision. Being unemployed in a tight job market offers very few opportunities even for talented individuals. One growing alternative for the newly "pink-slipped" is to start a business after a layoff. A start up may not be a viable option for everyone but many will go on and launch a more rewarding career as a small business owner.