Layoffs

Mike: I hope you all had an enjoyable weekend. WordPress is acting strange again this Monday and the paragraph spacing isn’t working well, so the layout may not be quite as smooth as usual. Today was a busy day for me, so I apologize for the sporatic and incompete updates. I hope to make Tuesday […]

Continue reading about June 8 – Obama promises 600,000 jobs this summer – 4000 lost jobs in UKs LDV collapse – Intuit cuts 300 jobs – Clopay closing plant with 330 jobs – Feds need 10,000 cyber security experts – GM cuts 400 at Flint Truck Assembly

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