AP: Signs recession nears bottom, but laid off workers: C-ya, hate to BE ya.

[Amerigo Vespucci]

Signs recession nears bottom, but layoffs persist

CHRISTOPHER S. RUGABER | April 2, 2009 02:58 PM EST | AP

http://www.huffingtonpost.com/2009/04/02/new-jobless-claims-at-669_n_182205.html

WASHINGTON — New signs that the recession could be nearing a bottom emerged Thursday, as factory orders were far better than expected and the Dow industrials surged over 8,000 for the first time in two months.

The Commerce Department said orders for manufactured goods rose 1.8 percent in February, reversing six straight monthly declines and easily beating estimates of another drop. Other economic indicators came in better than expected Wednesday, including construction spending and pending home sales.

Meanwhile, world leaders meeting in London on Thursday pledged $1.1 trillion to global institutions such as the International Monetary Fund to combat the downturn. And the European Central Bank agreed to cut a key interest rate to a record low of 1.25 percent.

Still, the job situation remains grim. Traditionally, the labor market doesn't pick up until well after a recovery has started.

The monthly unemployment report due out Friday likely will be dismal, and new jobless claims reported Thursday were worse than expected.

[sharp_stick]

1. It takes a long time for the jobs picture to improve any

even when a recovery is in fact occuring. Right now we have so many people out of work that it's helping the recession feed on itself. I hope the bottom has been found, then at least we can start to hunt for an upside.

[Amerigo Vespucci]

4. Wall Street can kiss my royal Italian ass...

...I understand what you are saying. But a Wall Street "rally" does NOT put food on the table of the average working American man and woman.

We can "WOO-HOO" all we'd like about Wall Street's "rallies."

When WORKING people...NOT the Wall Street "investor class"...can pay their rent / mortgages and put food on the table again, that wil be MY "woo hoo moment."

:patriot:

[XemaSab]

5. My question is how many companies are cutting back hours and doing projects at cost

in order to avoid layoffs?

Or they're "officially" laying off 10 people, but cutting the hours of 40 people down to 30 hours a week, thereby avoiding the layoffs of an additional 10 people? And then those 40 people cut way back on spending, so the people at the Thai place, at the toy store, at the hardware store, at the meat market, and so far have their income reduced? Passing the failures right on down the line?

50 businesses are projected to close in Redding, CA in the next two months. We're a town with 100,000 people, and we've already got 16.2% unemployment here. Putting another thousand people on the unemployment rolls would raise the unemployment rate by a full percent.

[Missy Vixen]

2. My husband's still looking

However, he told me last night that there are more jobs popping up right now on search sites.

Let's cross our fingers. :scared:

[Greyskye]

3. Was just laid off yesterday

Would have been my 25th anniversary in a few months.

[renate]

6. oh no... I'm so sorry

After so long, that's especially horrible. I hope things look up for you very soon. :hug: