U.S. Layoffs Surge to 17-Month High

Market Watch ^ | 7/6/2005 | Rex Nutting

[ex-Texan]

My personal views on this recent trend are pretty well documented here on FR. In case you do not know what they are, just do a search on my screen name. Believe that I have ruffled enough feathers for the time being. 'Nuff said.

[quiet_vet]

This economy is generating a TON of new jobs - the problem is, most of these jobs are in India and assorted other third world hellholes.

[TopDog2]

Just an opportunity for those 100,000 laid-off workers to move into nano-technology...
< /sarcasm>

[Fierce Allegiance]

Pink slip ping.

[proxy_user]

"So far in 2005, planned job reductions are ahead by 14%, at 538,274, Challenger's tally shows.

"According to the most recent Labor Department data, there were 4.6 million separations from jobs in April, including 1.6 million layoffs, up about 250,000 from a year earlier. At the same time, 4.5 million workers were hired, flat with a year earlier.

This doesn't seem to jibe. If there are 538,274 'planned' job reductions year to date, that's only 89,712 a month. But the Labour Department says there are 1.6 million layoffs per month. Or do they count all involuntary and seasonal separations? Do they include firing for cause?

In any case, if there is 4.5 million turnover per month, these 'big cuts' don't seem so big.

[EggsAckley]

Howdy Tex! Or, more appropriately, Aloha.

(just returned from Maui)

[RightWhale]

these 'big cuts' don't seem so big.

They aren't 'big'. They are the biggest in 17 months, which is to say that the bottom has been found. Layoffs could continue at this low level for a long time.

[MEGoody]

Last I saw it, the unemployment rate was 5.1%.

[Black Tooth]

This economy is generating a TON of new jobs

I was just told by a poster the other day that our manufacturing base is as good today, as it was 25 or so years ago.

[chimera]

You forgot to throw in a few more tried-and-true standard FR bromides:

1. They should start their own business.
2. It's their own fault they chose the wrong career.
3. Get retrained for The Next Big Thing (just don't ask what that is).
4. Move to where the work is (like India, Indonesia, China).
5. Quit complaining and suck it up (IOW, throw away all you've worked for and be glad to take a job at Mac's).
6. Let 'em eat cake.

(/sarc)

[Black Tooth]

I lurked for a long time, and I had to laugh when I read your post. It's is exactly what I have seen.

Thanks for that. Made me laugh.

[Fierce Allegiance]

Welcome to FR!

[KevinDavis]

5.1% is bad when there is a Republican in office..

[L98Fiero]

You forgot the other side:

1.) Whine about every fluctuation in the job market.
2.) Blame outsourcing.
3.) Ignore every positive number out there.
4.) Blame outsourcing.
5.) Expect work to come knocking on your door.
6.) When it doesn't, blame outsourcing.
7.) Whine some more

I'm sick to death of that lame McDonald's reference. There is a hell of a lot more to do in this country that fix fast food, unless that's all you are qualified to do. If that is all you are qualified to do, whose fault is that, the government's? Freakin' crybabies.

[KevinDavis]

You forgot one thing: Demand that the government do something and yet call yourself a Conservative..

[ARCADIA]

Just an opportunity for those 100,000 laid-off workers to move into nano-technology....

Say hello to our latest additions to the public sector workforce; where ever greater spending and bureacratic inflation is the name of the game.

[ARCADIA]

I'm sick to death of that lame McDonald's reference. There is a hell of a lot more to do in this country that fix fast food, unless that's all you are qualified to do. If that is all you are qualified to do, whose fault is that, the government's? Freakin' crybabies.

Said like a true blue shielded public employee, or a guy who inherited his position from his daddy. Opportunity lost is just that, there is still things to do out there, but it is less then it use to be and that is the key point.

[Realism]

Once welfare catches up a bit closer with wages, I'm retiring. Think of all the money I'll save in taxes and family health care.

[jb6]

Not true, the illegals are filling plenty of slots. Besides, all these jobs are jobs Americans don't want to do. I heard Space Station management is a new big thing, will be hiring hundreds of thousands.

[jb6]

It is, it just relocated a bit further west: to China.