A few months back I had brought up the fact that a full 40% of Phoenix-area jobs are tied to real estate and that real estate is (was) the major industry in the Valley. Prior to the fake real estate bubble, it was call center and manufacturing jobs, but they've all left the country, leaving pretty much nothing.
In response, some troll kept posting that there are real jobs in the Valley and kept naming Honeywell as the largest private employer. Someone then posted anonymously, claiming to be a Honeywell exec, stating that the Phoenix facilities are slated to close and all jobs would be sent to Mexico and Asia.
Well, it's for real, folks. The first announcement came today that the first phase of layoffs is underway and those jobs will be going to Indonesia and Malaysia.
Get ready for a lot more. And get ready for the West's next ghost town. 40% job loss to the fake real estate economy, all the call center and factory jobs have gone to Mexico, China, and Asia, and now the few remaining large employers are following suit.
The New Detroit.