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Posted By: Byron Tripp
Thursday February 4th, 2010 - 7:53AM
Believe it or not, we're no where near a recovery, especially when the recovery is dependent on your own personal belief in the value of a fiat currency in a country that produces very little tangible goods and a boo-coo of service based operations. When will American's realize that this situation is different than the Carter years? When will American's realize that this situation is different than the Depression years? 25.6 million people out of work whose families depended on their income to function in a fiat / credit based economy based on faith in a piece of paper. 2.82 million homes foreclosed, a record setting high. Oh yeah, Wall-Street has stole money from your children's children so they can give themselves billions to their shareholders and tens of millions in bonuses to their Corporate Executive Officers. And you wonder why their Stock Market is up?
When a robber mugs you in the street, you don't run after him and politely ask him to return your things do you? If truly you are that naive, then woe unto us all.
Written by Rex Nutting Of Market Watch - Courtesy of: www.marketwatch.com
Planned layoffs rise for first time since July: Challenger
WASHINGTON (MarketWatch) -- Planned layoff announcements at major U.S. corporations increased 59% in January, reaching 71,482 from a nine-year low of 45,094 seen in December, according to the latest job-cut tally by Challenger Gray & Christmas.
It was the first month-to-month increase in layoffs since July, the outplacement firm reported Wednesday. The figures are not seasonally adjusted.
Layoff plans ran 70% lower than the 241,749 announced in January 2009, which was a seven-year high.
Planned reductions for last month were led by retail companies, which announced 16,737 job cuts, and telecommunications companies, which cut 14,010 jobs.
Challenger's monthly tally covers only a small fraction of those who lose their jobs each month. Most layoffs are not announced in press releases.
According to the government's most recent report, 2.05 million people lost their jobs via layoffs or terminations in November. Through the first 11 months of the 2009, the government counted 25.6 million layoffs.
By Challenger's count, companies announced 1.288 million job cuts during 2009.
In a separate report, ADP estimated that U.S. private-sector employment fell by 22,000 in January, the fewest jobs lost in two years. The declines have lessened every month since March, when firms cut 736,000 jobs in one month. The report is based on a sample of hundreds of thousands of companies using ADP for their payroll services. See our full story on the ADP employment report.
