U.S. layoffs rise by 69 pct in Jan vs Dec-survey

[OhioChick]

Source: Reuters

Mon Feb 4, 2008 7:30am EST

NEW YORK, Feb 4 (Reuters) - U.S. companies' planned layoffs rose 69 percent in January from the previous month and were up 19 percent from January 2007, a report showed on Monday.

Planned job cuts in U.S. companies totaled 74,986 in January, compared with 44,416 in December, employment consulting firm Challenger, Gray & Christmas Inc. reported.

However, job cuts are still running below the monthly average of about 140,000 during the U.S. recession from March through November 2001, suggesting that the housing market's problems still have not spread beyond financial services and construction, Challenger said in a press release.

The financial sector had the most planned job cuts, stemming from the credit crisis ignited by defaults in subprime mortgage loans.



Read more: http://www.reuters.com/article/bondsNews/idUSNAT00366820080204

[fasttense]

1. A 69% increase in lay offs and our conniving government reports a mild 5%

unemployment rate. Something just does not add up here. Add to this the fact that over 7,500 households a week lost their homes in 2007 and continue to loses their homes today, and you wonder why there aren't riots in the street.

During the Great Depression, 200 families a week lost their farms and homes. The rate today (adjusted for population size then and now) is 1,500% greater than during the Great Depression. Something wicked this way comes.

[OhioChick]

2. The Numbers Have Never

Added up Under This Admin.

I know of people (And Im sure there are a shitload of them) that ran out of unemployment benefits ages ago.....they're not counted in the unemployment stats.

You're right...."Something Wicked This Way Comes."

[atreides1]

4. That's been going on for some time

Those that have exhausted their benefits haven't been counted in the past either, so in reality any unemployment numbers are questionable at best.

[redqueen]

6. Yup... the realest number is U-12, I think...

I wonder when they tweaked the "official" number... hmmmmmm...

:think:

[sarcasmo]

3. All is well. Buy more crap from China. Rinse and Repeat.

[aggiesal]

5. How many of these layoff are seasonal? ...

I'd be curious to find out.

But, I'm sure most really have to do with King George's so-called strong economy.

Another alternate reality.

[tanyev]

7. One surge that keeps going and going.