Layoffs Continue to Mount

The Street ^ | 10/20/10 - 02:28 PM EDT | By Jeanine Pogg

[Ernest_at_the_Beach]

NEW YORK (TheStreet) -- More jobs were shed in September, as government employement fell off significantly.

Nonfarm payroll employment dropped by 95,000 during the month, but the unemployment rate remained unchanged at 9.6%, according to the U.S. Bureau of Labor Statistics. Economists were expecting an uptick to 9.7%.

Government jobs fell by 159,000, primarily due to a loss of temporary census workers.

On the private-sector front, employment increased by 64,000.

For the week ended Oct. 9, initial weekly jobless claims grew by 13,000 to 462,000, according to the Labor Department. Analysts were expecting initial claims to rise by a smaller 5,000 to 450,000.

The government also upwardly revised the previous week's figure to 449,00 to 445,000.

As expected, companies continue to lay off workers at a steady pace. Here, then, is a look at those corporations that have laid off workers since the beginning of the year.

[Ernest_at_the_Beach]

This is a Global List with some surprises.....will post the one I saw.

[Ernest_at_the_Beach]

And we have this:

Energy Conversion Devices

Solar company Energy Conversion Devices(ENER_) announced on Aug. 11 that it plans to cut 140 jobs at its Auburn Hills, Mich., facility, shifting some of these jobs to Tiajuana.

Last year the company, which makes building-integrated photovoltaics, or BIPVs, which are designed to be built into buildings in the form of shingles or windows,already eliminated 25% of its workforce last year due to dwindling demand. But many of these laid off employees have since been rehired.

Energy Conversion has been in the red over the past year.

[Ernest_at_the_Beach]

fyi

[Spok]

The Obama economy is a gift that keeps on giving...to Republicans.

[doodad]

How many damn census workers were there that they are still being let go months later and at the rate of hundreds of thousands? I call BS.

[muleskinner]

The Chinese have invested $25 Billion inot their Solar Enegry industry so all solar panals will eventually be made over there. Probably wind turbines, too.

It will make no fiscal sense to create all the promised Green Energy jobs in the U.S., least of all Europe, when the companies will be bleeding red from the get go.

[webheart]

Nonfarm payroll employment dropped by 95,000 during the month, but the unemployment rate remained unchanged at 9.6%, according to the U.S. Bureau of Labor Statistics. Economists were expecting an uptick to 9.7%.

The term "unexpected" has been way overused, but I will tell you what is unexpected to me: How the economy can shed 95000 jobs, and the unemployment rate can stay the same. It has been this way for months now, longer even. Every month, more jobs are lost. Then, the next month, the loss figures are recalculated UPWARD. More lost jobs! Yet, the unemployment rate remains at 9.6%! UNEXPECTED!

[Timocrat]

Yet, the unemployment rate remains at 9.6%! UNEXPECTED!

The serious job losses started in the fall of 2008 so a lot of unemployed have reached the 99 week limit so they drop off the official unemployed list. U-6 keeps climbing. The U-3 rate is utterly meaningless.

[steelyourfaith]

Thanx Ernest !

 

Beam me to Planet Gore !

[TwelveOfTwenty]

On the private-sector front, employment increased by 64,000.

According to ADP, we lost 39,000 private sector jobs in September.

[kearnyirish2]

Fuzzy math; if Bush was president they’d admit that we’ve reached 20%.

The voters know we’ve reached 20%...

[Marine_Uncle]

We have been screwed. Most likely for good. I am sure I do not have to elaborate in the least to the many here that have followed our (USA) demise over the past thirty years plus.