Thursday, February 25, 2010

US Jan mass layoffs edge up on weak manufacturing

You have to LOVE the Orwellian sub-headline. Manufacturers stepped up job cuts, but probably not enough to alter views that the economy is on the brink of creating jobs. Any day now those jobs are going to come. Except when they don't, and it's so unexpected, all of it is. I'm not buying it. You're not buying it. How many of the rest of the people buy it?

I had a conversation yesterday with some people you might say are not in the know, and they were talking about getting visas in case they have to flee the country. I would certainly not encourage them to leave - the NWO will continue to destroy the world until the people plant their feet and say enough! But at least they're somewhat aware things are not good.

    Reuters -

    The number of mass layoffs by U.S. employers edged up in January as manufacturers stepped up job cuts, data showed on Tuesday, but probably not enough to alter views that the economy is on the brink of creating jobs.

    The Labor Department said the number of mass layoff actions -- defined as job cuts involving at least 50 people from a single employer -- increased by 35 to 1,761. Mass layoffs had trended lower since August.

    A total of 182,261 workers were affected last month. In January, 486 mass layoff events were reported in manufacturing, resulting in 62,556 workers filing claims for state unemployment benefits. It was the first increase in mass layoffs in manufacturing since August.

    The labor market is lagging the broader economic recovery that started in the second half of 2009. Since December 2007, when the worst recession in 70 years started, the U.S. economy has shed 8.4 million jobs.

    Payrolls have declined every month since then except for last November when they increased by 64,000. Economists reckon the economy is a few months away from creating jobs.

    Employers last month cut 20,000 jobs after laying off 150,000 workers in December, while the unemployment rate fell to 9.7 percent from 10 percent.

    In the 26 months to January, a total 53,739 mass layoff events were effected and involved 5,425,101 workers, the Labor Department said.