Walmart's success with its rolling back prices campaign is taking on new meaning as the retail giant is now rolling back jobs. The 11,000 plus job cuts represent approximately 10 percent of Walmart's employee base. The job cuts come following a strong 4th quarter for 2009, with Walmart sales exceeding 60 billion. So why the job cuts if sales are up? Two words - Sam's Club.

Sam's club which is Walmart's membership chain isn't fairing as well as its competitors in that space i.e. Costco and BJ's. So in an an attempt to be more competitive in the wholesale club membership space, Walmart's believes outsourcing its food sampling program to Shopper Events is necessary. Even more stunning, Walmart's PR is passing off the largest Walmart job cut ever as an -- investment. What's the basis for the idea of 11,000 job cuts as an investment? Well Walmart states that Shopper Events will need to hire approximately the same number of jobs as Walmart is currently axing. Cunning. So the 11,000 folks loosing their jobs shouldn't really fret the situation since they can always apply at Shopper Events for the same job that they are currently performing. In other words is really shouldn't be a big deal to trade in a "bird in the hand" for a "bird in the bush".

For Walmart, the whole investment pitch will likely be a hard sell to its employee base. Moreover, that sell fights gravity even more so, considering the 1,500 full-time employees that already received the axe this year. Granted, the 11,000 job cuts slated for Sam's Club are mostly part-time positions but hey a job is a job these days. For many American's a part-time job is the only job to be had; for others a part-time job in conjunction with a full-time job is what it takes to make the numbers work. So needless to say, Walmart rolling back jobs isn't anything to be excited about. Even worse, image if Walmart decides to reverse the rolling back prices campaign in favor of price increases. Hopefully, rolling back jobs at Sam's club isn't an early warning sign of doing away with the "low price leader" title.

We may be off and running into the 2010 but so far the new year brings with it last years same job search dilemma. So far the big hiring frenzy has yet to manifest although there are some industries such as transportation and construction that are poised to take off, thanks to Obama's renewed interest and commitment with dollars towards green energy and the sheer number of green jobs that will be created.

So what exactly does construction and transportation have to do with green jobs? Well for starters construction demand will increase as a result of the focus on weatherizing homes, commercial properties and government facilities. Needless to say, since the Feds are leading the way with the cash infusion you can expect most of the initial weatherizing projects to be focused on government facilities. From there you can expect to see a spike in the areas of commercial property and personal homes. With regards to transportation, look for the Big Three to line up for some more Fed cash as the automakers will hurriedly sign up build more fuel efficient vehicles with a focus on renewable and alternative energy -- hint hint more hybrid vehicle. Moreover, in a decade hybrid vehicles will be the standard for personal automobiles with commercial vehicles lagging behind but not by much.

With Obama's renewed commitment to green energy and more importantly, green jobs, you can expect the Feds to lead the way with projects that will promote massive hiring. So sure we are into a new year with pretty much the same job search dilemma but that is positioned to change. The only questions are when will the hiring start and how many of the 5 million new green jobs projected over the next decade will actually commence in 2010? We will see but at least we know the hiring is on the way considering Uncle Sam has plenty of cash (credit anyway) and more importantly is putting some of that cash back into America in the form of jobs. Tax credits are good, jobs are better.

Washington's recent Bankers Dozen Bigwig meeting ends with little to no tangibles, while long term unemployment is just beginning. The Banker Bigwig Round Table sponsored by the President,  this week, ends with the President calling for banks to take a third and fourth look at small business lending. "Calling for banks to take a third and fourth look at small business lending" hardly seems like a strategy with any reasonable chance of success. Especially since, such a plea clearly comes across as a cry for help versus something like the power of a mandate. Second, according to what lending guidelines or standards are banks expected to take that third or fourth look? Washington failed to provide such an outline which means banks can later alleged they did something that can't actually be measured or verified. Can you smell the politics? Meanwhile, of course, long term unemployment of six months or more is just kicking into high gear.

For small businesses looking to hear the strategies that would be employed to allow loans to flow, the Bankers Dozen Bigwig meeting leaves one wanting. Moreover, this is echoed amongst job seekers who are eager to learn which small businesses will need to hire. Unfortunately, those questions were left unanswered while the long term unemployed are selling off possessions just to survive. Moreover, as the number of long term unemployed continues to grow you can expect more long term job seekers to find themselves in dire straits. All things considered it might have come across better to answer a few of those lending & job growth questions rather than opt for a political game of "the camera is rolling..." So the Bankers Dozen Bigwig meeting ends while long term unemployment is just getting started. Thus, it looks like job seekers hopes are rested on the start of new wave of hiring for the New Year despite the absence any economic drivers to influence hiring. Can you say Powerball?