Job cut announcements up 43%

[mpsteve]

Report: Planned reductions jump to highest level since April, as jobless recovery continues.


NEW YORK (CNN/Money) - U.S. job-cut announcements jumped in July to their highest level in three months, an outplacement firm said Tuesday, another sign that the longest job-market slump since World War II continues.

http://money.cnn.com/2003/08/05/news/economy/layoffs/index.htm

I just don't see a recovery. In addition, I predict that next year the stock market will be flat.

[Rose Siding]

1. I hope these numbers wake some voters-

"Texas saw the most cuts, with 9,593, followed by Massachusetts, with 9,235, and Illinois, with 8,438."

[mpsteve]

3. As long as the Dem nominee can align himself/herself with Bush on foreign

policy and security issues I can't see how he/she could lose. The economy will worsen over the next 12 months and that is when the Dem nominee will deliver the knock-out punch to W.

[Mithras61]

2. But... but... but...

the "seasonally adjusted" U3 is DOWN .2% to 6.2%! How dare they loose jobs when the unemployment roles are down! /sarcasm

Actually, the "adjustment" seems to be a little skewed in Chimpy's favor to me, but the raw figures are also available here:
http://www.bls.gov/webapps/legacy/cpsatab12.htm

I personally use the U6 figure as a more accurate measurement, but even that is down slightly, which makes me suspect a little cooking of the numbers... something which the current administration has been known to do before with the excuse later on that the numbers were "preliminary, and not intended to be 100% accurate" (even though they were published by the press as news, and the corrected ones weren't).

[w4rma]

4. Bush* and Mr. Great Depression himself, Hoover both *lost* jobs

[ClintonTyree]

5. This isn't the worst of it.................

many companies wait until after the third quarter to "adjust employee inventory". IMO, this autumn will end in a blood bath of lay offs.

[headlouse]

7. agreed. this isn't over

The stock market seems to be in calm before the storm mode which is typical for august. I know my company will be evaluating itself come september; if things don't go accourding to plan we may fold entirely. Autumn won't be the end of things either: I forsee a low sales holiday season and with the almost assured natrual gas shortage winter should be ugly.

[phillybri]

6. * is doing a great job of creating jobs!

:grr: