Jobs Cut

Mike: The monthly unemployment numbers show a marked improvement over the previous seven months, but the unemployment rate increased to 9.4% due to more people looking for work. The lower job loss figure is good news, but the higher unemployment number shows the difficulty in finding new work. One reason, in my opinion, why more […]

Continue reading about June 5, 6, 7 – May jobless rate hits 9.4% (U6 rate at 16.4%), but layoffs slow to 345,000 – Canada jobless rate spikes to 8.4% – Up to 320 gone at Trane – Sale of Saturn to Penske saves 13,000 jobs – Fort Wayne Foundry idling 461 – Cessna hands out 700 of planned 1300 layoff notices

Friday brings with it the Employment Situation, which is expected to be a market mover. The consensus estimate ranges from -625,000  to -495,000.  Till then…………… Mike: Jobless Claims show a slight drop to 621,000 from a revised upward figure of 625,000 the previous week. Seems that every week we have a jobless claims number that is revised upward, but that’s […]

Continue reading about June 4 – Jobless claims dip to 621,000 – Continuing claims stop the record breaking pace, but still at 6.7 million – UCSD cuts 800 jobs, more cuts on the way – Cessna: more layoffs June 19 – Capital Research and Management to cut 820

Mike: There are quite a few economic reports on today’s agenda and a couple of them – Challenger Job-Cut Report and ADP Employment Report – show the direction of employment. The Challenger Report shows an improvement with planned job cuts, but since this is considered the time of year where job cuts are at lower levels, the improvement […]

Continue reading about June 3 – Challenger: planned layoffs lowest in eight months – ADP: jobs cuts higher than expected, but lowest since November – IBM cutting more jobs in NY? – > 600 to lose jobs at Phillips Products – Greif Inc. eliminated jobs 678 in 2nd Q