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Layoffs Rose Dramatically in July: "Wheels Off the Recovery Wagon"

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Layoffs Rose Dramatically in July: "Wheels Off the Recovery Wagon"

Post by Guest on Thu Aug 04, 2011 11:35 am

From Reuters, today:

The number of planned layoffs at U.S. firms rose to a 16-month high in July as sectors which had been seeing fairly few layoffs unexpectedly bled jobs, a report on Wednesday showed.

Employers announced 66,414 planned job cuts last month, up 60.3 percent from 41,432 in June, according to a report from consultants Challenger, Gray & Christmas, Inc.

July's job cuts also were up from the same time a year ago, rising 59.4 percent from the 41,676 job cuts announced in July 2010, and recording the largest monthly total since March, 2010.

Progressives have been warning about the recovery not being so much of a recovery for months, and these numbers seem to back it up.

http://www.alternet.org/newsandviews/article/643930/layoffs_rose_dramatically_in_july:_%22wheels_off_the_recovery_wagon%22/

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Re: Layoffs Rose Dramatically in July: "Wheels Off the Recovery Wagon"

Post by jmainframe on Thu Aug 04, 2011 1:27 pm

This will have a direct effect on the July "official hahaha" unemployment figures. The only thing that confuses me is, do they count "planned" July layoffs as actual layoffs?

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Re: Layoffs Rose Dramatically in July: "Wheels Off the Recovery Wagon"

Post by tristen303 on Thu Aug 04, 2011 3:41 pm

Maybe the President should listen to his own party more

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Re: Layoffs Rose Dramatically in July: "Wheels Off the Recovery Wagon"

Post by Sponsored content Today at 12:51 pm


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