ZOTTED Troll ping.....
Posted on 10/05/2004 12:31:06 PM PDT by rep4life
U.S. Job Cuts at 8-Month High in Sept.
Tue Oct 5,10:06 AM ET Business - Reuters
NEW YORK (Reuters) - U.S. planned job cuts soared to an eight-month high in September while new hiring rose only slightly, a report said on Tuesday.
Related Quotes DJIA NASDAQ S&P 500 10167.87 1959.74 1135.92 -48.67 +7.34 +0.75
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Employment consulting firm Challenger, Gray & Christmas Inc. said employers announced 107,863 layoffs in September, 41 percent more than in September 2003 and 45 percent more than in August of this year, when 74,150 were laid off.
The September figure was the largest since January 2004, when employers laid off 117,556 workers.
The September figure brings third-quarter job cuts to 251,585, 19.9 percent more than the 209,895 registered in the previous quarter and 4 percent more than the 241,548 for the third quarter of 2003.
Job losses in September were particularly heavy in the computer, transportation, telecommunications and consumer products industries, the report said.
Adding to the glum jobs picture was the slow pace of new hiring in September. The report said employer hiring announcements revealed only 16,166 new job openings in that month compared with 132,105 in August.
"Historically, the period from September 1 through December 31 is when we see the heaviest downsizing and this year appears to be on track to repeat that trend," said John Challenger, chief executive officer of the firm.
"This period can also be a time for hiring since companies are looking ahead to the new year and making budget and staffing decisions. Weak hiring announcements last month are not a good indication of stronger job creation to come," he said.
One Friday, the government will report on the U.S. employment situation in September. It will be the last official report before the presidential elections. Economists polled by Reuters forecast a 148,000 rise in non-farm payrolls for September compared with a 144,000 rise in August
man I hope friday's numbers kills this
Something not mentioned in this article. I work for a major corporate farm, and we layed off about 3000 seasonal workers this last month. Is this number included in the figures cited by Reuters?
How much of this is Hurricane related?
Something we Freepers need to think about...not only is President Bush having to campaign while doing his job in office, did you ever wonder why is it that John Edwards and John Kerry, the two biggest Jackasses have not been in the senate for the last 6 months; but are still being paid by the taxpayers at the rate of $168,000 a year. Don't we wish we could get a job like that.
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What are the households numbers?
boom.
It seems to me that when the jobs figures are released they are NET numbers and take into account the layoffs anyway. Besides the jump the past two weeks in unemployment claims has been determined to be mostly caused by the many hurricanes we have had last month.
ZOTTED Troll ping.....
Trolls are part of a conspiracy to sap and impurify all of our precious bodily fluids!
the article says PLANNED job cuts, not actual jobs cut during sept. Be patient till friday and then decide if you need to panic. Also, when the numbers come out friday, if they look suspicious, refer back to the numbers the last month of the bush/clinton election and you will see they sucked. It wasn't until after clinton was elected that the dept of labor stats ADJUSTED the numbers to show they were much, much better than they had orignally reported. Conspiracy theorists have long suspected that the numbers were fudged by labor dept. employees to relect badly on BUSH 41......
I like zots.
The job numbers should be about 160k barring anything from the hurricanes. anything above 144-148k would be huge for the prez
Mmmmm, I love the smell or Roast Troll..
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My company is hiring like crazy. It's getting hard to find a parking spot in the employee garage.
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