Announced U.S. Job Cuts Rose 20% From Year Ago, Challenger Says

[Pale Blue Dot]

Source: CNBC

Employers in the U.S. announced more job cuts in February than in the same month last year, led by a surge at government agencies.

Planned firings increased 20 percent to 50,702 last month from February 2010, the first year-over-year gain since May 2009, according to a report today from Chicago-based Challenger, Gray & Christmas Inc. Announcements at federal, state and local government offices almost tripled from last year.

“More job cuts at the federal level are expected in the months ahead as pressure mounts to cut costs and rein in the soaring national debt,” John A. Challenger, the outplacement company’s chief executive officer, said in a statement.

Dismissals of government workers may contribute to a slowdown in consumer spending, which accounts for 70 percent of the economy. Combined with the highest gasoline prices in two years, the threat of a pause in purchases may already be causing retailers, which had the second-biggest number of announcements last month, to pare payrolls, said Challenger.



Read more: http://www.bloomberg.com/news/2011-03-02/announced-u-s-job-cuts-rose-20-from-year-ago-challenger-says.html

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This will not come as a surprise to anyone paying attention.

[Vinee]

1. certainly this is a sign that things are improving

[groundloop]

2. The right wingers don't get this concept. All they want is to CUT TAXES, which means....

Cut jobs. They bitch about the administration not creating enough jobs, yet insist on cutting taxes (to benefit the wealthy, of course) which means laying off workers. "So be it", they say, but in the next breath bitch some more about the administration not creating jobs. They're doing a fancy little dance to squeeze out the largest tax concessions possible while at the same time blaming the administration for the ensuing loss in jobs. People should have figured out by now that the trickle down BS just doesn't work, that it's just more fairy dust.

[katnapped]

3. GET...OBAMA...OUT

That's the GOP's ONLY goal

[Le Taz Hot]

4. The census employment will have a lot to do with

those figures over the next 6 months in comparative analysis.

[lonestarnot]

5. So timmy gietner/jan brewer cut the poor people from medicaid and dole it to the corps shit didn't

create 1 job? WTF :crazy:

[Denninmi]

6. Where are all of the jobs Mr. Boehner promised us last fall?

Wasn't that half of the right wing mantra going into the elections -- no jobs were created because the evil gubermint was sucking the life out of things. Wasn't it going to be an economic paradise once the Repubs took over?

Where are the jobs?

[ixion]

7. Ah the putrid smell of a 'jobless' recovery

which isn't really a recovery at all.

[OhioChick]

8. Doesn't surprise me at all n/t

[HughBeaumont]

9. Trickle Down. Bootstraps. Tax Cuts. Laissez Faire. Milton Friedman.

Alan Greenspan. Reaganomics. Free Trade Agreements. Rising Tide lifts all boats. Invisible Hand. Can't help the wage earner by hurting the Wage Payer. Supply Side. Horatio Alger. Tax work not wealth. Spread my work ethic, not my wealth. Why should I have to pay for other people's health care? Free Markets. Job Offshoring. Globalization. Government should be run like a business at the behest of businessmen.



Riiiiiiiiight, howzabout throwing all that shit in there once and for all rather than voting for it over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over and over again?

[xchrom]

10. recommend

[ChromeFoundry]

11. Recommend for the truth n/t