Layoffs In September EXPLODE 126% In Worst Month Since April 2009

Business Insider ^ | 10/05/2011 | Joe Weisenthal

[SeekAndFind]

Just out from Challenger, the latest survey of job cuts:

Employers announced plans to shed 115,730 workers from their payrolls in September, making it the worst job-cut month in over two years. Heavy reductions planned by the military accounted for a large portion of September job cuts, signaling what may lie ahead as the federal government seeks across-the-board cuts in spending.

September job cuts were 126 percent higher than the 51,114 announced in August, according to the latest report on monthly job cuts released Wednesday by global outplacement firm Challenger, Gray & Christmas, Inc. They were 212 percent higher than September 2010, when employers announced just 37,151 job cuts. Last month’s total is the highest since April 2009, when 132,590 job cuts were announced.

Here's the industry breakdown table.

[SeekAndFind]

[Pearls Before Swine]

The cuts are distributed pretty much throughout the economy. Both retail and manufacturing sectors are well represented.

[Spruce]

Hope and change. FUBO

[petercooper]

I've never seen someone so excited about the deterioration of the economy as this guy. Jeez

[the invisib1e hand]

excluding gov't, finance was tops. That's a really bad leading indicator - it certainly has been historically.

OTOH, if the gov't is actually cutting costs, that may be a pre-leading indicator (but I'm not convinced).

[MNGal]

“Unexpected....”

[SeekAndFind]

RE: I’ve never seen someone so excited about the deterioration of the economy as this guy. Jeez

MISERY LOVES COMPANY.

[proxy_user]

ADP has just reported that net private-sector employment was up 91,000 in September. So somebody must be hiring to offset these layoffs.

[commish]

UNEXPECTED!

[Shady]

State Gumments are cutting drastically, Feds are hiring!!

[USNBandit]

91k is a really bad number.

[Himyar]

Many of the government cuts are DOD cuts. Some don't matter that much but some are vital contractors. Hubby lost his job 2 weeks ago. He kept the system that tracks the life span of aircraft parts for the whole USAF. As in the parts have to be changed out at the proper intervals or you lose a bird. He kept the system up and running, fixing errors etc. Tops at his job. Now a guy that also does other stuff and another person with minimal experience are trying to do his job. Everyone is having a duck, even calling him at home. I've had two calls this morning. Told them he's out driving a silage truck trying to keep our heads above water. I'm semi disabled but I ‘m looking for something too. The feds are really going to save a lot on this deal-NOT.

[proxy_user]

Well, it’s not great, but it beats -91K.

[subterfuge]

October will be even worse. I and 200 of my coworkers just got laid off at defense contractor Northrop Grumman laser systems division. They axed 160 back in March and will do another 200 in the spring.

I was there for 33 years and I was sure I’d retire there. Currently firing the pool Guy and the landscaper. I told them it was simply due to trickle down obamanomics. I got laid off so they get laid off and I told one of them he was part of the problem if he voted for obama.

[Cheerio]

[Pearls Before Swine]

I find it hard to understand how the government’s management people could let such an essential function as that provided by your husband even become heavily dependent on one person. There’s no redundancy in the reliability system. Then, they further compound their foolishness by firing that same person!

My sympathies on your situation.

On the bright side, he may get to hire back as a special consultant at a much higher rate than he previously earned, if he doesn’t help his replacements for free over the phone.

[rarestia]

Healthcare organizations are cutting their losses due to increases in health care insurance coverage for their people.

I work in the healthcare IT industry and will be unemployed as of 10/31. They’re cutting everything and piling mounds of work on top of people with the expectation that things will continue to hum along uninterrupted.

Next time you go to the hospital, take a look around at all of the nifty gadgets and systems they use. They all require people to maintain those systems and servers, and now they’re cutting that staff to make ends meet. Enjoy!

[ScottfromNJ]

“ADP has just reported that net private-sector employment was up 91,000 in September. So somebody must be hiring to offset these layoffs.”

Looks like these are planned layoffs that haven’t shown up in the system yet.

[Himyar]

He had always tried to get some folks cross-trained, but the military folks were always getting transferred and there weren't enough contractors to take up the slack.
He won't be assisting anyone because he's out doing various farm work jobs to make some money. I'm just glad our son (full-time Air Guard) is an ammo troop and not a pilot. His systems are all messed up too because the contract on that system expired too and a lower bidder got it. He had drill this week and I told him not to lose or break anything.