[JohnnyP]

Why were there so many job losses during that period?

[Alberta's Child]

1. Improvements in productivity made more and more jobs redundant and unnecessary.

2. The real estate bubble had run its course, and there was nothing else to keep the house of cards standing.

3. People literally ran out of sh!t to buy. Once you have a suburban home, two cars, and a $10,000+ home entertainment center in the den, what else do you need?