Challenger: July US Job Cuts Up 43% From June

Dow Jones Newswires | August 5, 2003 | Agnes T. Crane

[Starwind]

Challenger: July US Job Cuts Up 43% From June

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NEW YORK (Dow Jones)--The deterioration in the labor market continued in July, but a recovery in capital spending may eventually spur job growth, outplacement firm Challenger, Gray and Christmas reported Tuesday.

The firm counted 85,117 planned job cuts in July, 43% higher than the 59,715 cuts reported in June.

Job cuts announced by U.S. corporations from the start of the year through July totaled 715,649, down 12% from the 814,493 reported during the same seven-month period last year.

"If there is significant capital spending to compel to start hiring again" the job market could turn around by the end of the year, said John Challenger, CEO of the firm. "Employers have all the cards," he said.

The consumer-products sector posted the highest number of job-cut announcements in July, with 15,665, followed by transportation, with 9,820, and government and non-profits, with 9,369.

The report is an anecdotal, non-statistical tally of job-cut announcements that are reported in major media outlets. The report focuses only on job-cut announcements, not actual layoffs, and it doesn't take into account new hires or internal transfers at companies that have announced layoffs.

Challenger, Gray & Christmas, an outplacement firm, tracks layoff announcements and releases its Challenger Employment report monthly.

-By Agnes T. Crane, Dow Jones Newswires; 201-938-2122; agnes.crane@dowjones.com

(END) Dow Jones Newswires

08-05-03 1000ET- - 10 00 AM EDT 08-05-03

[Starwind]

Fyi...

[Semper Paratus]

Bush better watchout.
If a conservative is a liberal who was mugged than a liberal will be a conservative who was layed off!

[samuel_adams_us]

At this same time ,India's economy just expanded another 43%.

[scottlang]

Jobs and economy will be the largest issue in the upcoming election. The Presidency will be outsoursed to the democrats if he is not careful.

[Dane]

The consumer-products sector posted the highest number of job-cut announcements in July, with 15,665, followed by transportation, with 9,820, and government and non-profits, with 9,369.

Huh you would think that people on FR would be happy with the bolded part in the above passage.

[LibertyAndJusticeForAll]

"Bush better watchout.
If a conservative is a liberal who was mugged then a liberal will be a conservative who was layed off!"

Very well put, Semper Paratus.

[The Duke]

How much is Ken Lay worth again?

[Dane]

Huh another so called "conservative" who is disappointed in the cuts in government jobs.

Oh that's right sammy, you just shout the same old stuff without reading thhe article.

You gotta keep you masters happy as you post from the bowels of the DNC.

[Lazamataz]

The consumer-products sector posted the highest number of job-cut announcements in July, with 15,665, followed by transportation, with 9,820, and government and non-profits, with 9,369.

Huh you would think that people on FR would be happy with the bolded part in the above passage.

Why, yes, whenever I am filing for bankruptcy, the only thing on my mind is the net-loss in government jobs.

Dane, Bush needs you to remove your lips. He needs to sit down for a while.

[dfwgator]

This is more than just about losing jobs. Changing jobs and even being out of work for periods is nothing new. But the scary thing is that this is not just about people losing jobs, it is people losing careers.

[Alberta's Child]

Head to the hills, everyone. It's all over, now. We're all going to be living in cardboard boxes by this time next year.

/sarcasm off/

If you go back and look at the job picture at the tail end of every recession for the last gazillion years, you'll find that every recovery is accompanied by high unemployment rates. That's why it's called a "recovery" -- businesses become more profitable by shedding excess workers and improving their productivity.

[Dane]

Why, yes, whenever I am filing for bankruptcy, the only thing on my mind is the net-loss in government jobs

You are a bitter person aren't you. Maybe if you planned better you wouldn't have had to declare bankruptcy or at least have a modicum of responsibilty to blame yourself, oh maybe for 1% of your plight and not blame this mean cruel world.

[samuel_adams_us]

Dane,
I have no master, I don't care who the employer is, I hate to see people lose their jobs. Once you have lost yours, then tell me if you have the same opinion, otherwise keep your short sighted wit to yourself.

[Dane]

Once you have lost yours, then tell me if you have the same opinion, otherwise keep your short sighted wit to yourself.

I have, but I lived frugally, and have moved on. I don't drive a new car, get my clothes and shoes from discount stores, and don't take expensive trips.

[Lazamataz]

I have, but I lived frugally, and have moved on. I don't drive a new car, get my clothes and shoes from discount stores, and don't take expensive trips.

You know, you could save a lot if you gave up your ISP.

[samuel_adams_us]

So I guess you happy about being poor now? Am I correct, Are you happy to see your H1B visa buddy across the street driving the new Chevy that you helped to pay for?

[Dane]

So I guess you happy about being poor now? Am I correct, Are you happy to see your H1B visa buddy across the street driving the new Chevy that you helped to pay for?

I don't consider my self poor. It could be a lot worse. I could have been born in some tin horn dictatorship in Africa and right now scouring the country side for a kernal of corn.

[samuel_adams_us]

So you are saying you are happy to pay for another man's living who isn't a citizen of the United States and that you are willing to lay down and take it? Are you really an american?