"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.
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.