Tracking the Economic Collapse: The dismal weekly layoffs and closings report....

[marmar]

http://www.costar.com/news/Article.aspx?id=D75F9FA5E99282F56ECF01F6E566B11B


from CoStar group:


Closures & Layoffs (Dec. 7-13): Job Losses by Industry
A Weekly Report on Future Corporate Downsizings


In this week's issue:

Job losses large and widespread.

Plus, a whole new round of major U.S. corporation closures and layoffs were announced in Alabama, Arizona, California, Connecticut, Florida, Georgia, Indiana, Iowa, Kentucky, Minnesota, North Carolina, Oregon, South Carolina, Texas, Washington and Wisconsin.


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Job Losses Large, Widespread

Nonfarm payroll employment fell sharply (-533,000) last month and the unemployment rate rose from 6.5 to 6.7%, the Bureau of Labor Statistics of the U.S. Department of Labor reported.

November's drop in payroll employment followed declines of 403,000 in September and 320,000 in October, numbers that were revised upward over much lower numbers released just a month ago.

Employment continued to decline in manufacturing (-85,000), with widespread job losses occurring among the component industries. Manufacturing employment has declined by 604,000 since December.

Within durable goods manufacturing, job losses occurred in November in fabricated metal products (-15,000), machinery (-11,000), wood products (-9,000), furniture and related products (-7,000), primary metals (-7,000), and computer and electronic products (-7,000).

Employment in transportation equipment edged up, as a return of 27,000 aerospace workers from a strike more than offset a job loss in motor vehicle and parts (-13,000). In the nondurable goods component, job losses occurred in plastics and rubber products (-12,000), printing and related support activities (-5,000), and textile mills (-5,000).

Employment in construction fell by 82,000 in November, with losses occurring throughout the industry. Since peaking in September 2006, construction employment has decreased by 780,000. Specialty trade contractors lost 50,000 jobs in November, with both residential and nonresidential components contributing to the decline.

Within professional and business services, the employment services industry lost 101,000 jobs in the month, bringing total job losses since December to 495,000. In November, employment fell by 10,000 in architectural and engineering services.

Employment in retail trade fell by 91,000 in November. Job losses continued in automobile dealerships (-24,000). Employment in the industry has fallen by 115,000 since December, with much of the decrease occurring over the last 2 months.

In several other retail industries, seasonal hiring for the holidays fell short of normal in November. After seasonal adjustment, employment declined in clothing and accessories stores (-18,000); sporting goods, hobby, book, and music stores (-11,000); and furniture and home furnishing stores (-10,000).

Wholesale trade employment was down by 25,000 over the month, with most of the decrease among durable goods wholesalers.

Employment in leisure and hospitality declined by 76,000 in November, with most of the decline occurring in accommodation and food services (-54,000). Since peaking in April 2008, accommodation and food services has lost 150,000 jobs.

Employment in financial activities continued to decline (-32,000). Within the industry, job losses occurred in credit intermediation and related activities (-16,000) and in rental and leasing services (-9,000). Job losses in financial activities have accelerated in the last three months, bringing the total decline since December to 142,000.

....(snip)....

The following future closings and permanent mass layoffs were reported in Alabama.

* FPMI Solutions Inc. is closing down and laying of 89 workers in Arab on Dec. 29.

* Georgia-Pacific Corp. is closing down operations in Monroeville and at 4224 Highway 21 North in Peterman and laying off 319 workers Jan. 10.

* United Industrial is closing down its Spectrum Brands operations at 1309 Edwards St. in Sylacauga and laying off 107 workers Jan. 15.

* Louisiana-Pacific Corp. is closing down at 1500 N. Clarke Industrial Road in Thomasville and laying off 129 workers next month.

* Mars Petcare US Inc. has started laying off 54 workers at 1904 16th St. North in Birmingham.

* Teledyne Continental Motors has started laying off 60 workers at 2039 S Broad St. in Mobile.

* Berry Plastics Corp. is laying off 71 workers at its Covalence Specialty Adhesives at 126 Textile Ave. in Albertville Jan. 20.

* West Fraser is closing its lumber mill at 20025 Odom Road in Citronelle and laying off 102 workers this month.


The following future closings and permanent mass layoffs were reported in Arizona.

* Caliber Funding LLC is laying off 13 workers at 9201 E. Mountain View Road, Suite. 210 in Scottsdale on Dec. 31.

* Kinro Inc. is laying off 67 workers at 3065 S. 43rd Ave. in Phoenix on Dec. 31.

* Kmart is laying off 72 workers at 1920 W. Broadway in Mesa and 135 workers at 12025 N. 32nd St. in Phoenix on Dec. 18.

* Spherion is laying off 65 workers at 7 W. 2nd St. in Yuma on Dec. 31.

* The Share Group has started laying off 77 workers at 4411 S. 40th St., Suite D6, in Phoenix.

* XDx, a molecular diagnostic company at 3260 Bayshore Blvd. in Brisbane, CA, is eliminating 25 positions.

The following future closings and permanent mass layoffs were reported in Connecticut.

* Big Y Foods Inc. is laying off 89 workers in East Hartford on Jan. 15.

* P&G Hair Care LLC is closing down a Clairol operation at 1 Blachley Road in Stamford and laying off 320 workers; layoffs begin next month with the plant closing in March 2010.

* Shaw's is closing down and laying off 89 workers at 605 Post Road East in Westport on Jan. 10.

.......(much more, sadly, by clicking the link at the top of the page.).....

[Double T]

1. If it looks like a depression, sounds like a depression and smells like a depression.........

it sure as hell ain't no recession.