Economic Report: U.S. planned layoffs rise 22% in November - Automobiles - Manufacturing - Bond Market - Economy
I'm not including these numbers in the total at the top since there is no way to know how many were already reported but it's easy to see that I wasn't even close to finding them all. The article goes on to say what sectors added jobs but the retail sector added 8500 which we all know doesn't pay as well as many of the jobs that were lost.
If I could stress anything; it's to make it a new years resolution to have a plan B and start a home based business. Start it in your spare time and maybe by the time your number is called, you can say it doesn't bother you.
Namaste,
Brian
Economic Report: U.S. planned layoffs rise 22% in November - Automobiles - Manufacturing - Bond Market - Economy
Layoffs rise 22% in Nov., Challenger says
By Rex Nutting, MarketWatch
Last Update: 10:06 AM ET Dec. 7, 2005
WASHINGTON (MarketWatch) - Led by sharp cuts in the automotive industry, planned job reductions by major U.S. corporations increased 22% in November to 99,279, according to a monthly tally released Wednesday by outplacement firm Challenger, Gray & Christmas.
Planned layoffs have increased three months in a row.
Layoffs were down 5% from November 2004's 104,530.
So far in 2005, corporations have announced 964,232 job cuts, up 3.6% from the year-to-date total a year ago. Layoffs are likely to surpass 1 million for the fifth straight year. In 2004, 1.04 million job reductions were announced.
More than 10% of the job cuts this year have come from the struggling automotive sector, which has announced 105,886 cuts this year, including 16,870 in November.
"Downsizing in the auto industry is expected to continue well into the new year, as companies try to bring production capacity in line with the reality of the market," said John A. Challenger, chief executive officer of the outplacement firm.
The Challenger tally doesn't include published report on Wednesday that Ford Motor Co. (F:
Ford Motor Company
News, chart, profile
Last: 8.20+0.09+1.11%
4:15pm 12/07/2005
More F
F8.20, +0.09, +1.1%) will increase its planned reductions from 20,000 to 30,000. The new restructuring plan is to be approved by the board of directors on Wednesday and Thursday, the Detroit News reported Wednesday, citing unnamed sources. See full story.
Government and nonprofits groups announced 14,195 job reductions in November, Challenger said. Transportation, pharmaceutical, industrial goods and telecommunications also had large numbers of layoffs in November.
The Challenger data cover only a small portion of job losses in the United States each month. Layoffs at small companies are not included, for instance. In the most recent government data, 1.77 million layoffs and discharges were reported in September.
The layoffs can be accomplished immediately or over time. Some jobs are cut through voluntary means, such as quitting or retiring.
"There clearly are areas of the economy that are struggling to find a foothold but, for the most part, the economy is very strong," Challenger said.
In November, U.S. nonfarm payrolls increased by 215,000, the 30th consecutive month of job growth, the Labor Department reported last week.
See full story.
If I could stress anything; it's to make it a new years resolution to have a plan B and start a home based business. Start it in your spare time and maybe by the time your number is called, you can say it doesn't bother you.
Namaste,
Brian
Economic Report: U.S. planned layoffs rise 22% in November - Automobiles - Manufacturing - Bond Market - Economy
Layoffs rise 22% in Nov., Challenger says
By Rex Nutting, MarketWatch
Last Update: 10:06 AM ET Dec. 7, 2005
WASHINGTON (MarketWatch) - Led by sharp cuts in the automotive industry, planned job reductions by major U.S. corporations increased 22% in November to 99,279, according to a monthly tally released Wednesday by outplacement firm Challenger, Gray & Christmas.
Planned layoffs have increased three months in a row.
Layoffs were down 5% from November 2004's 104,530.
So far in 2005, corporations have announced 964,232 job cuts, up 3.6% from the year-to-date total a year ago. Layoffs are likely to surpass 1 million for the fifth straight year. In 2004, 1.04 million job reductions were announced.
More than 10% of the job cuts this year have come from the struggling automotive sector, which has announced 105,886 cuts this year, including 16,870 in November.
"Downsizing in the auto industry is expected to continue well into the new year, as companies try to bring production capacity in line with the reality of the market," said John A. Challenger, chief executive officer of the outplacement firm.
The Challenger tally doesn't include published report on Wednesday that Ford Motor Co. (F:
Ford Motor Company
News, chart, profile
Last: 8.20+0.09+1.11%
4:15pm 12/07/2005
More F
F8.20, +0.09, +1.1%) will increase its planned reductions from 20,000 to 30,000. The new restructuring plan is to be approved by the board of directors on Wednesday and Thursday, the Detroit News reported Wednesday, citing unnamed sources. See full story.
Government and nonprofits groups announced 14,195 job reductions in November, Challenger said. Transportation, pharmaceutical, industrial goods and telecommunications also had large numbers of layoffs in November.
The Challenger data cover only a small portion of job losses in the United States each month. Layoffs at small companies are not included, for instance. In the most recent government data, 1.77 million layoffs and discharges were reported in September.
The layoffs can be accomplished immediately or over time. Some jobs are cut through voluntary means, such as quitting or retiring.
"There clearly are areas of the economy that are struggling to find a foothold but, for the most part, the economy is very strong," Challenger said.
In November, U.S. nonfarm payrolls increased by 215,000, the 30th consecutive month of job growth, the Labor Department reported last week.
See full story.
posted by Brian | 2:03 PM
1 Comments:
Bryan,
Getting that home based business going is a great idea.
Not as a resolution for next year, but as a goal by this year's end.
Next year you can already have a business going.
Post a Comment
<< Home