Laid Off

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

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

Mike: Good day to all. Yesterday was GM bankruptcy day and the death of another American icon. The job loss carnage of both the Chrysler and GM bankruptcies will be felt for years to come as hundreds of thousands of decent paying auto related jobs end and are replaced with lower paying  jobs. Maybe the […]

Continue reading about June 2 – Pending April home sales rise 6.7%: most since 2001 – S.F. budget cuts 1600 jobs – Layoff notices to 1100 in Chicago – Deere dumps 494 in Ottumwa