U.S. October layoffs surge 125%

[gWbush is Mabus]

http://cbs.marketwatch.com/news/newsfinder/pulseone.asp?dateid=37929.4167939815-809414361&siteID=mktw&scid=0&doctype=806&
WASHINGTON (CBS.MW) -- Layoff announcements from U.S. companies more than doubled in October to 171,874, the highest in a year, according to the monthly tally released Tuesday by outplacement firm Challenger Gray & Christmas. October is typically the largest month for layoff notices, as companies slash costs at the end of the fiscal year. The Challenger survey is not adjusted for seasonal factors. Layoff announcements had fallen for three months in a row before October's 125 percent increase. In October, the auto industry sacked 28,363 workers, followed by 21,169 in the retail sector. Telecommunications companies cut 21,030. So far in 2003, 1.04 million job reductions have been announced.



Take credit for that asshole! (I was speaking to *, of course)

[mhr]

1. Those of Us Looking For Jobs Could Tell You That Employment Is Still Tight

eom

[blindpig]

5. the view from behind the pawnshop desk..............

Here in upstate SC the job situation really sucks. I've been in this biz for 16yrs and employments never been worse. Be assured, a pawnshop is blues central. More new faces, old reliable customers defaulting. I think jobs/trade could be the strong card to be played in the south.

[Rose Siding]

7. The Bicycle Thief

was just on PBS here Sun night. The scene with all the sets of wedding sheets piled up in the pawn shop hit me hard this viewing.

[Media_Lies_Daily]

17. I've been in the recruiting/staffing business for more than 20 years...

...and I've never seen the employment picture look this bad. Three years ago I had more clients than I could possibly handle...they were calling me for help. Now I'm looking at the very distinct possibility of closing my once lucrative one-man operation.

This is the longest "recession" that I can remember, and the worst by far. So many people losing their life's savings, losing their houses, can't get health/medical insurance without paying huge sums of money...it's pretty bad.

[Say_What]

22. Where are you geographically, 'cause the spin in the Bay Area

is that the rest of the country is *surging* ahead.

[0007]

32. 'Tis an employes' market and ......

....and ....and do they love it!!

Even the fast food joints are gettin' sassy these days.

[kdmorris]

44. That makes me feel even worse for the 22 people that

my company laid off yesterday. I can't see any "economic growth". I feel like my whole company is just playing some sick game of "Lotto". We all sit there and wait and watch them take out our co-workers. And we all hope it's not our turn this time while at the same time, feeling sick that we are somehow wishing that fate on others that we've worked with all this time. I've made it through 10 rounds of layoffs now, and in my down moments, I think I just can't take another one. But I can't find another job either, so there I sit.. waiting.

/bitter off

[True_Blue]

46. Been there

I went through 2 years of watching my co-workers get walked out and wondering if I would be next. The company finally ended up shutting the plant down completely.

I feel for you .... those 2 years were very stressful.

BTW .... welcome to DU! :hi:

[Flying_Pig]

2. What's wrong with these people? Haven't they heard? The economy

is surging! Why, it was just reported that the GDP is up 7.2%, the highest in 18 years. WTF?

Sarcasm aside, how in the hell can the economy be said to be doing good with layoffs like this, and unemployment figures the highest since the Depression? Thr Bushnazi's attempts to put "good news spin" on terrible economic news, is failing as bad as their attempts to put a happy face on Iraq.

It's starting to feel more fascist by the day here ....

[jayfish]

3. I Can Still Hear The Faint Echoes Of Champaign Corks Popping.

I wonder if this will be the top story on every goddamn "news" broadcast tonight? I also wonder how quick ShrubCo will take, personal, credit for the loss another 170 thousand jobs?

Jay

[Noordam]

6. No job lost is Clinton's Penis Dept.

Grrrrrrrrr

[jeter]

4. You know what just occured to me

That the increases in factory production this month could be because of the lay offs. It isn't unusual for factories to pump up production just before laying off a shitload of people. It would explain a lot.

Then it would make the jump in GDP an abberation.

[DUreader]

8. manipulation more likely than aberration.

[Beetwasher]

15. That's actually a good point

Though I suspect the increase in production is mostly due to gearing up for Xmas...

[hatrack]

9. But the economy's recpvering!! RECOVERING!!

And I am as smart as Richard Feynman, as good-looking as Brad Pitt and as rich as Warren Buffett!!

You see, if you just keep repeating it and believe it with all your heart, it becomes TRUE!!

[bleedingheart]

10. hey feynman was cute...

[shrike]

11. This is more in line with what I've been seeing

The 7.2 GDP made no sense to me. This does. Meanwhile, MSNBC is touting the "for real" recovery, on the same day that Tyco has announced 7,200 layoffs.

[0007]

34. Just a prop baby, just a prop...

and there will be more.

Ck. out the Washington Journal whores for the right wing tomorrow morning. You'll see what I mean jelly bean!!

[Beetwasher]

12. Right in the Middle of Xmas Hiring Season

That ain't good...

[spinbaby]

13. Tyco laid off 7200

http://story.news.yahoo.com/news?tmpl=story&u=/dowjones/20031104/bs_dowjones/200311040848000834

[Zech Marquis]

14. ohhh bu the recovery is steaming along at high speed!

don't you know how much money halliburton is making these days? why they don't have enough people working as living targets in raq. Sign right up and make Unca Dick's bank accounts swell even bigger :evilgrin:

[UpInArms]

16. in the economic briefing for the week

they are anticipating that unemployment comes in at 6.2% up from 6.1% - doesn't look like a recovery from here -

when the profiteers are only interested in upping the profit margin so that the stock looks good - soon there will be no workers making any money to buy their goods and since the US has truly very few exports (other than munitions), there will be hell to pay to get this economy back into the black.

[rdub]

18. more "progress" on the economy...

Deckard

[UpInArms]

19. when * said he and his team would

concentrate on the economy non-stop, was this what he was talking about?

[newyawker99]

25. Hi RickDeckard!!

Welcome to DU!! :toast:

[Skittles]

47. hey Rick

welcome to the DU

:hi:

[goforit]

20. I guess the Economy is great when you don't have to pay anyone!!!

India's low wages is making a mint for every US CEO!!!

:argh:

[TexasPatriot]

21. Job Cut Announcements Jump

link at CNN as well

http://money.cnn.com/2003/11/04/news/economy/challenger/index.htm?cnn=yes

i hope bunnypants "takes credit for economic news" like he did yesterday... dickwad.

[mrsteve]

23. This indicates what the business community REALLY thinks for the recovery

Basically, if the businesses are laying off workers in September and October it's because their forecasts for next year tell them that they can't afford their current staffing levels against next year's planned sales.

So, even as many of the big business leaders keep crowing about *'s recovery, they are still not willing to put cash behind it. And that tells you what they really think.

[Beetwasher]

24. Exactly. It's also VERY bad that this news is coming during

what should be a surge in employment because of Xmas hiring...

[SpiralHawk]

26. But, but, but, just wait ....

until the Bush Economic Recovery plan kicks in -- tax-cuts for the wealthy will save America. You'll see.

So don't be nattering nabobs of negativity. Have some fAiTh in the cOmmAnder. After all, didn't HE himself once say:

"By making the right choices, we can make the right choices for our future." - George W. Bush

And remember, a rising tide lifts all yachts.

with a patriotic Cheerio - SH

[david_vincent]

27. Here in VT, Tubbs snowshoes just announced that production

will be moved to China beginning next season (04/05). This means that a rock solid source of seasonal jobs in central Vermont, where jobs are pretty hard to find, will be gone after this season. It also means that if you want a pair of American made Tubbs 'shoes, you'd better buy em this year.

[metisnation]

45. join the club

check this site out you may be interested www.samnow.org. It is a tragedy that China is in the WTO, given their human rights and labor laws or lack thereof. We can all do our part to defeat this threat by buying American made goods preferably produced by small buisnesses.

[nolabels]

28. lay offs usually make the stock market go up, or did that happen....

already. I bet a lot of the ordinary Joes took that 3rd quarter growth in GDP crap hook, line and sinker. When will regular people want to start learning the truth? This is all a dream, right, :silly:

[kayleybeth]

29. The unemployed are losing everything

losing their savings, their cars, their homes. My father works for a national mortgage company and told me the other day that their foreclosure department is the busiest he has ever seen it. I saw a story on one of the cable news channels the other night about auto repo companies that said car repossessions have more than doubled in the last year alone. We are witnessing the destruction of the middle class, folks. Right here and right now. And it is no accident.

[Warren Stuart]

30. One reason for the "good" economic news in the 3rd quarter

Was the economic activity associated with the refinancing of homes over the summer when the rates were at their historic low.

This was a short lived event and couldn't be sustained for long. The economic recovery that was touted was mostly smoke and mirrors.

Today's news sucks.

[TrueStory]

31. The US Wonder - Unemployment raising and GDP growth record high

The 7 Wonders of Communism

1. Everybody has got a job


2. Everybody has a job, but nobody is working


3. Nobody is working, but the Plan is always accomplished above 100%


4. The Plan is accomplished over 100%, but you can't buy anything in the shops.


5. It's not possible to buy anything in the shops, but everybody gots everything


6. Everybody gots everything, still everybody steals


7. Everybody steals, but nothing is missing

[confusius]

33. Look on the bright side

There'll be plenty of military jobs, mostly in infantry, and undertakers. If bush is still in office. Of course, you don't really have to worry about anything, because Jeebus will be coming back to invest, with these low interest rates.

[Cush]

35. from the CNN Article

http://money.cnn.com/2003/11/04/news/economy/challenger/index.htm?cnn=yes

"Challenger's firm also surveyed about 50 human resources executives and found that 78 percent don't expect to see a "significant" upturn in hiring until the second quarter of 2004.

Eleven percent of those surveyed said the pick-up would be delayed until the third or fourth quarter of 2004. Another 11 percent said there would be no hiring rebound at all in 2004. "


Hmm, will Bush get a lucky break?

[Beetwasher]

36. LOL!

Good catch!

There will be NO hiring in time for the election. However, you can totally expect a MASSIVE propoganda campaign that will make it SEEM like there's hiring and new jobs being created.

[Cush]

37. exactly

the media would/will be out in full force spouting that Bush's Economic Policies work......

[kymar57]

39. shrub's economy and the idiots who support it

I work in a warehouse where we have a brief staff meeting every AM and talk about the day's schedule and then current events or whatever is on our minds.This AM talk got around to politics and such and one guy a likeable enough fellow who apparently does not own a clue said whistleass was doing a fine job as president.I am sure my brain(feeble as it already may be)almost melted.After a few minutes of relating to him as much as I could what I had learned from the folks here at DU,I tried to point out how the shrub had affected him personally.In the last year at our job we have seen staff reductions(approx 5%) our yearly merit raises cancelled,our pension plan eliminated,our health care cost doubled(from 20% me-80% company to 40% me-60% company) and just last week the elimination of a modest profit sharing plan the company offered.
How do we combat such ignorance????
Thanks for letting me vent
:grr:

[Frodo]

40. Doesn't this imply...

...that the vast majority of hiring manager said that there will be a "significant" hiring upswing in the 2nd quarter of next year?

Wouldn't that be months before the election? With a string of "good" news in the months leading up to November?

Are we sure this isn't planned?

[area51]

49. promises, promises

Frodo said:

"Doesn't this imply ... that the vast majority of hiring manager said that there will be a 'significant' hiring upswing in the 2nd quarter of next year?

"Wouldn't that be months before the election? With a string of 'good' news in the months leading up to November?

"Are we sure this isn't planned?"

Sure, they've promised this stuff before, just like they've been saying for the last 3 years that we'll have a recovery & there will be jobs again. Fscking republinazi liars. Since their predictions haven't come true yet, I'm not holding my breath now.

[TexasPatriot]

38. hehe

yeah... that was my favorite part too...

78% say look for Q2
11% say Q3-Q4
11% say 2005+

That's 100% folks... and from the HR types I know who are hired by big firms to help counsel people as they're laid off - it aint over.

[Demonaut]

41. Validation

This goes to show you that the economy is turning around, a loss of jobs means things are getting better! Hopefully when we are all jobless the economy will be absolutely BOOMING. So in order to help it along please quit going to your jobs or just QUIT, Hey, the world needs ditch diggers too!

[ozone_man]

42. Move along now, nothing to see here.

The recovery is in full swing, 7% GDP growth and all. Jobless recovery my eye.

[enki23]

43. repeat after me:

7.blahblah percent. 7.blahblah percent.

the economy is wonderful.*

(*if you invested heavily in the stock market during the earlier full-spectrum decline.)

[are_we_united_yet]

48. In the words of Shrub and Co,

"Our policies are beginning to take effect".

[Yavin4]

50. How Bush Spins All Economic News

If It's Good News...Take Full Credit

If It's Bad News...Blame Clinton

If It's Really Bad News...Call for Another Tax Cut for the Wealthy

So, you see, whichever way the news falls, Bush spins it in his favor.