Mass Layoffs Jump In January After Four Straight Months Of Decline

[AllentownJake]

Mass layoff events -- defined as any time an employer whacks at least 50 employees at one time -- jumped again in January after having declined for four months in a row.

Employers took 1,761 mass layoff actions in January that resulted in the separation of 182,261 workers, seasonally adjusted, as measured by new filings for
unemployment insurance benefits during the month, the U.S. Bureau of Labor Statistics reported today. Each action involved at least 50 persons from a single
employer.

Both mass layoff events and initial claims increased from the prior
month after four consecutive over-the-month decreases. In January, 486 mass
layoff events were reported in the manufacturing sector, seasonally adjusted,
resulting in 62,556 initial claims. Both figures increased over the month--the
first increases since August 2009 for events and since September 2009 for initial claims. (See table 1.)

http://www.businessinsider.com/mass-layoffs-jump-in-january-after-four-straight-months-of-decline-2010-2

[AllentownJake]

1. Bueller....Bueller nt.

[bigwillq]

2. More layoffs

http://www.nhregister.com/articles/2010/02/23/business/doc4b844cf291d82068519634.txt

[TexasObserver]

3. Jake, didn't I predict in the 4th qtr this would happen in the 1st qtr?

As I predicted in our discussions last year, the retailers who got past Christmas cut back on employees the first quarter. That will help them limp forward and try to catch up this summer or fall.

I also predicted in the 4th quarters the DOW would decline in the new year and dip below 10K in the first quarter, but that it wouldn't get below 9k. So far, that's been accurate.

I still think we could see the DOW drop below 10k and flutter in the 9000s for a month or two, but ultimately, I think this is a year where the stock market sees a gain of 8% or more. I also think we will see unemployment trend down by summer, which I've also stated in our discussions.

[AllentownJake]

4. I'd be agreeing with you right now on the future

If the consumer confidence numbers indicated a good spring ahead of us.

That is something I don't think either of us predicted a dip in.

[TexasObserver]

8. I think the consumer confidence number is also predictable.

I start from the season and the weather. Dreary, cold, sunless weather and short days affect the human psyche. We feel the effects and one of those is depressive in nature. Something inside us likely asks "will it ever get warm and sunny again?"

I also look at what is happening to consumers. They lose jobs. They get hours cut back. They get the credit bills from their Christmas spending. It's a grim time.

These factors bring down the collective spirit of the populace. Add a constant refrain from business media that picks apart everything Obama does and it's a recipe for disenchantment.

[AllentownJake]

9. I think part A and B

have more to do with C

If I have money in my pocket, and I think I'm going to have a job in the future, I spend more.

As for the weather, I spend more when I'm depressed.

[Romulox]

5. (puke) green shoots! k/r. nt

[951-Riverside]

6. No matter who you vote for the situation is bleak.

The only thing that will save us is international investment in manufacturing but the useless unions and politicians will drain any company that attempts to dry with dues, taxes, environmental impact reports, etc.

[AllentownJake]

7. or we could tariff the hell out of foriegn goods in countries that don't respect our values nt.

[ipaint]

10. More and more every day.

http://dailyjobcuts.com/

For today February 23 , 2010

Layoffs:

Pratt & Whitney Connecticut - 163

Car dealer Pendragon ( International ) - 190

ABC News - Hundreds of Buyouts Coming Tomorrow

Carrefour ( International ) - 1,700 Layoffs, and 21 Retail Store Closings

Cabarrus County - 76

MaineToday Media - More Layoffs Coming in March Possibly

University of Illinois’ Urbana campus - 9

Buzzi Unicem plant in Pryor's MidAmerica Industrial Park - 1/2 of Workforce or 55 Temp Layoffs?

Freeport-McMoRan Copper & Gold Inc - 60

San Rafael school District - 37 Job Cuts Notices

Community Regional Medical Center - 38

The Port Huron Area School - 27

Stafford Township NJ - 5

The Kansas State athletic department - 8

Rock Hill School District SC - 31 Layoffs Possible

Update: San Francisco Ca School Teachers - 900+ Jobs on the Line

Monster Worldwide Inc - 200

Invista - 50 in Wilmington Area

The Dothan City Schools - 131 to 220 Job Cuts Possible

Metropolitan Transportation Authority of NYC - Layoffs to be Announced Today

Update: Boeing Puget Sound Area - 527

Goodrich Corporation in Jamestown - 60


Daily bankruptcy and closings also listed at link.

For those of us laid off in our late 40's to 60's in the working class this is the depression. Good jobs won't be back for years if at all and those that do come back in the trades will go to younger people. It's a nightmare.

[Beacool]

11. Oh boy, it's never ending.................

I worry so much about the country. Some people are running out, or have ran out already, of their unemployment extensions. A friend of mine was crying last week, she only had two more weeks left of unemployment and no prospective job in sight. She had worked for 22 years at one of the top 10 law firms in Manhattan. Seniority counted for nothing when they let go of 45 people last May, from attorneys down to clerks. Her daughter graduated as an architect from RPI in Troy, NY and worked for two years in Boston at a very good firm. Her firm had been hired to design the tallest building in the city when the financing was frozen. She and 50 other people were let go. She decided to get a masters degree at Penn State. She'll finish this May and then what? Will there be a job out there for her?

ABC Nightly News just said that the employment rates aren't expected to go up to the pre December 2007 levels until 2013.

Isn't that just grand? What are people supposed to live on until then?

:-(

[NJmaverick]

12. Anyone with even a rudimentary understanding of economics and/or busines

knows that January always sees an uptick as companies are loath to lay off workers during the holidays.:eyes:

[girl gone mad]

13. lol..

It's just a flesh wound!



:rofl: