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.

[SierraWasp]

"The government/non-profit sector -- which has been the biggest job cutter so far this year -- placed third in July with 9,369 cuts."

Now I think this is GREAT news... if true!!!

Grampa Dave has been telling us that CA is leadin the nation down the slumping economic and employment path, but this is sayin in the last paragraph that it's Texas, Massachewsetts and some other state, or other... Wassup wid dat???

Something is screwy with this article!!!

[eldoradude]

Your shopping list is the reason behind gun control. A happy, well treated and trusted citizenry have no reason to shoot the government. When the government acts and contemplates further actions they know will piss off a large percentage of the people, they push it even harder. Look at Mexico, no gonns or boolitz allowed. For a very good reason. Bang, bang, new leaders.

[eldoradude]

I don't think H1-bs are a threat either.

Hmmm, so you think everyone should be willing to work a 70 hour week for 15-20 thousand a year to compete. Come on over, I got some stuff I need done around the house...I'll pay ya $3 an hour, okay?

[DoughtyOne]

This government expresses more fear from the populace every day. I don't disagree with your comment one bit. And I think they fear because they know damn well what they are up to, what the results will be and how pissed the populace is going to be when it realizes how badly it's been sold out.

[snopercod]

I don't know what the rates are where you live, but around here the Mexicans get $10-12 per hour in cash to "do things around the house".

Many "legal" workers around here are making less than that with no benefits, and have to pay taxes on it.

[Marauder]

severe case of bruxism

Help me out here: What is bruxism, and how do I know if I have a severe case of it?

[ex-snook]

Thanks for your thoughtful posts. The question remains.

Will another term for President Bush continue the job problem or lead to a solution? Will 'waiting it out' be a successful stratergy? The long run ends on election day. To fail means the GOP will again get long run possession of the Hoover horns.

[BlackbirdSST]

OK, that makes more sense to me, and you're right! Blackbird.

[SierraWasp]

Severe clenching and gnashing of teeth!!! (Bruxism)

[NRA2BFree]

Ping for the awakening! :)

[Marauder]

Thanks. It appears I've done that a lot, especially since I became aware of liberals and their agenda.

[PatrioticAmerican]

Totally worth repeating:

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.

[PatrioticAmerican]

"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."

Excellent observation. The Refi economy is similar to the DotBomb economy. People had free money and spent like crazy. Perhaps the feds knew this and kept the interest rates low to continue the Refi boom.

Of course, they also came under pressure from the retirement crowd who saw their incomes from interest slashed.

[Cold Heat]

What is sad is that you have no facts to confirm your version of economics 101 as you say. BTW, I took 102 as well and do not believe the(Keensian) BS they were shoveling back during the 70s.

You have failed to pose any arguement to counter any of my assertions and instead insinuate that I am stupid.

As a student of Keens you must be frustrated with the republican economic successes.

[Cold Heat]

Hmmm, so you think everyone should be willing to work a 70 hour week for 15-20 thousand a year to compete.

What makes me sick is the Yuppie who get's out of school and demands 50-60k to begin his/her career with no track record, no experiance, no real hands on knowledge and driving a brand new car for which a high monthly note must be paid. (stupid lease)

I am a firm believer in the apprentice system that gives a beginner a entry level wage that rarely is actually earned.

[Cold Heat]

Oh sweet lord. I give up

you can gloom and doom all you care to and it will effect nothing.

Get with it and adjust for the changing economy or it will leave you, (if it has not already)

I have no earthly idea where you actually stand or what you know because you have done nothing on this thread but bash what is posted with no ideas/statements of fact at all.

Just bitchin.

[ex-snook]

"Totally worth repeating:

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. "

Thanks. jhoffa pointed out it's something like marketing. Perot saw a need and filled it. I think highly unlikely again since the two parties have seized the debates and limited exposure to their own.

[GraniteStateConservative]

The more in debt we become, the more beholden we become to the foreign holders of T-Bills, which finance the debt (and help foreign companies keep their high trade surpluses against us. We pay taxes and some of that goes to foreign governments who hate us. How's that for a kick in the pants? Deficits are a matter of national secuirty.