Job cut announcements up 43%

CNN Money ^ | Aug 5, 2003 | Mark Gongloff,

[ex-snook]

NEW YORK (CNN/Money) - U.S. job-cut announcements jumped in July to their highest level in three months, an outplacement firm said Tuesday, another sign that the longest job-market slump since World War II continues.

U.S. employers announced 85,117 job cuts in July, a 43 percent jump from 59,715 in June, according to Chicago-based outplacement firm Challenger Gray & Christmas, which publishes monthly tallies of job-cut announcements.

[ex-snook]

"But the labor market has been especially lagging lately -- the economy exited a recession in November 2001, according to the National Bureau of Economic Research, but the labor market still hasn't recovered. "

OPEN ASSIGNMENT
MISSION TO SAVE AMERICAN JOBS

President Bush:

Mr. President your mission, should you decide to accept it, is to recover the 3+ million jobs lost on your watch. You are to find where they went, recover them, and prevent this from happening again.

You have until November 2004 to complete this mission.

If you choose not to accept this mission, or are incapable of performing, don't run in the GOP Primary so another Republican can accept this important mission for America.

American Citizen Voter

PS Ronald Reagan was the last Republican to understand. Ross Perot sent a warning to your Dad but since then all we hear is the mantra, 'Perot gave us Clinton'. Actually your Dad gave us Perot.

[DoughtyOne]

Well that certainly hit the forum like a thud. Not that a thud isn't necessary once in a while. LOL Stand back...

[Chi-townChief]

CNN dusts off the Democrat 1984 and 1992 playbooks and springs into action. Now all we need are some Springsteen and Billy Joel tunes.

[Cold Heat]

This is the unfortunate result of public corporations trying to please "the street".

It would be my contention that most of these cuts are temporary as they await increased consumer spending. August is a bad time.

[ex-snook]

"CNN dusts off the Democrat 1984 and 1992 playbooks and springs into action"

You don't think the current reports are forged, do you?

[ex-snook]

"This is the unfortunate result of public corporations trying to please "the street". "

There is truth in that. But then the article seemed to call that a 'jobless recovery'. In which case, who really recovers in a 'jobless recovery'?

[novacation]

Perot spent millions of his money trying to stop NAFTA.The major networks would not sell him time. The great sucking sound. It sucks alright.May as well let the illegals have what is left.Ever get the feeling that the US is going to be in big trouble soon? I do.Illegals are bleeding us dry and the governments response is to give them more. What is happening in California is were the country is headed. Limp wristed creeps like Davis and Gore are determined to destroy this country.Tech jobs that were invented here are now being outsourced. Manufacturing jobs are being lost by the thousands.And what does the government do? Tax the people who still have a job to give it to illegals and corporations to help them move work oversees.

[ambrose]

Junior is ripe for the pickings in '04.

Federal spending is out of control, jobs are being lost left and right, and nothing is being done to secure our borders.

What will probably save him is that the Rats seem bent on nominating Howard Dean. The Sheeple are not going to entrust their national security to that guy.

[ex-snook]

"Well that certainly hit the forum like a thud. Not that a thud isn't necessary once in a while. LOL Stand back... "

Hey Doughty - If a 'tree' falls on the wrong ears, maybe it doesn't make a thud!

[Cold Heat]

Recovery is a staged process. Employment always lags and is the last thing to show increased numbers.

Capital spending and GDP are showing nice gains and as the harbinger of things to come like employment and further growth in cap ex.

If your expectations are to return to the dot com boom and high wage rates for IT and computer professionals, then you are going to be disappointed. that industry has begun to mature.

What we need for another boom is another great idea. I don't see one coming soon, but it is quite possible. That is the American way.

[BlackbirdSST]

What is happening in California is were the country is headed. Limp wristed creeps like Davis and Gore are determined to destroy this country.Tech jobs that were invented here are now being outsourced.

You were sure heading in the right direction, then you mentioned the limp wristed creeps Davis and Gore? Davis, you can bring into this, but Gore? What power does Gore have in all this? Yes, as Kali goes.....but Gore? Blackbird.

[DoughtyOne]

I can't speak for him, but I would think Gore would do for the nation what Davis has so skillfully carried out in California.

[DoughtyOne]

...it's music to their ears. And that's the problem for the nation.

[ex-snook]

"Manufacturing jobs are being lost by the thousands.And what does the government do? "

Well if we need to build ships, planes and tanks, the government could ask China and Korea to build them for us.

[waterstraat]

I thought we were told the recession ended 6 months ago?

This is very bad news for bush, and his diminishing chances to get re-elected in 2004. (He doesnt have many months left to get all those jobs back, and all those factories that closed and moved to china and mexicobefore the primaries)

[varon]

It would be my contention that most of these cuts are temporary as they await increased consumer spending. August is a bad time.

Don't bet on continued consumer spending. The spending spree from "rate & term drop with cash out" refi frenzy is coming to an end (practically has ended). Now let's see the true state of the economy without this stimulus that drove many people into debt way over their heads.

[BlackbirdSST]

I can't speak for him, but I would think Gore would do for the nation what Davis has so skillfully carried out in California.

No real argument there, but it was stated as a present tense, not "if" Gore was in charge. I just thought the poster should realize who sit's in the WH! Blackbird.

[null and void]

Rilly? Still no/very few technical jobs in Silicon Valley...

[waterstraat]

Federal spending is out of control, jobs are being lost left and right, and nothing is being done to secure our borders.

We need to get a republican in the white house, the old fashioned kind of republican who was fiscally responsible and had good economic policies and who defended our borders .

[TopDog2]

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