US job cuts stage second monthly rise in May- report

[UpInArms]

http://www.forbes.com/work/newswire/2004/06/01/rtr1390664.html

NEW YORK, June 1 (Reuters) - The number of planned layoffs in the United States rose for the second month in a row in May, with the retail sector registering the highest number of job cuts, according to a report on Tuesday.

Outplacement firm Challenger, Gray & Christmas Inc., said planned job cuts rose by just 1.6 percent to 73,368 in May compared with 72,184 in April.

But the report showed monthly job cuts in May this year were 6.9 percent above those in May 2003, making this the first month since December that has seen a year-on- year increase.

Layoffs hit a nine-month low of 68,034 in March.

While retailers led all other sectors in May with layoffs, the financial sector ranks first among all industries in job cuts announced this year and layoffs in this sector are 84 percent higher than they were a year ago.

...more...

[jackstraw45]

1. Corporate Media WHORE Headline - could it BE more misleading?

Instead of just saying there has been a rise in unemployment Reuters gives us this headline.

Pathetic.

[PROGRESSIVE1]

2. Yes but this is Forbes, you know, that magazine run by the....

Trust Fund Baby Steve Forbes???

Steve has NOT worked one day in his life!

:puke:

[AndyTiedye]

3. Layoffs in the Resorts and road stops Haven't Started Yet

the ones that are going to happen due to the high gas prices,
when the motoring public stops taking all those long summer car trips.

Did any of you notice the Memorial Day weekend traffic this year,
or lack thereof?
It seemed lighter than a normal weekend.

[UpInArms]

4. well, if you want a whore headline - here's an even better one

http://cbs.marketwatch.com/news/story.asp?guid=%7BCF0CE26B-C77B-435B-B502-D5360159A321%7D&siteid=google&dist=google

Jobs gains boost May ISM
Highest employment level since April 1973

WASHINGTON (CBS.MW) - Manufacturers added to their payrolls in May, boosting the factory sector to its fastest pace of activity since January, the Institute for Supply Management reported Tuesday.

The ISM index rose to 62.8 percent in May from 62.4 percent in April. This is the seventh month in a row that the index has been above 60.

"Manufacturing remains in a robust cyclical upswing," the economic team at Bear Stearns said in a note to clients.

The increase in the May ISM index was unexpected. The consensus forecast of estimates collected by CBS Marketwatch was for the index to fall slightly to 62.0. See Economic Calendar.

Readings above 50 indicate expansion. The ISM has been above 60 for seven straight months for the first time since the second half of 1993 and early 1994. The May PMI corresponds to a 7.2 percent increase in U.S. GDP, the ISM said.

"It appears that second quarter growth will be very solid, and the momentum should carry over into the second half of the year," said Norbert Ore, chair of the ISM manufacturing business survey committee.

Separately, the Commerce Department reported that construction spending rose 1.3 percent to a record level in April. See full story.

In addition, layoffs were up 1.6 percent in May, according to a monthly tally by Challenger, Gray and Christmas. Read full story.

In May, the rate of growth in new orders and production slowed slightly, but was offset by a significant increase in employment. Read full survey.

The employment index rose to 61.9 in May from 57.8. This is the highest employment level since April 1973.

"Manufacturing is in a hiring mode," Ore said. "The environment is ripe for hiring and there is a lot of hiring going on," he said.

...more...

YeeHaw!

[Name removed]

5. Deleted message

Message removed by moderator. Click here to review the message board rules.

[Name removed]

11. Deleted message

Message removed by moderator. Click here to review the message board rules.

[Frodo]

12. Sorry, no.

I'm right here. Ready to take on your 63 little posts.

I noticed you guys had no response on the "mass layoffs" thread?

I also don't see you touting the highest ISM manufacturing jobs number in over 30 years?

[Name removed]

13. Deleted message

Message removed by moderator. Click here to review the message board rules.

[Frodo]

15. I haven't "rah rah (ed)" Bush once.

That you mistake truth for partisan bias is ridiculous.

It's a simple economic cycle and shrub shouldn't get any credit for it at all. Anyone at least 20/400 in one eye could see it. But because it is inconvenient poltically some wish to stick their heads in the sand and ignore it. Or even call people names who just report the facts.

[arlib]

16. Unlike some....

...I try to make sure that my remarks aren't "poltically" motivated.
Just informed through experience and observation. Both of which have served me well in digesting the contents of your posts.

[Name removed]

17. Deleted message

Message removed by moderator. Click here to review the message board rules.

[Just Me]

18. Frodo, you have always pulled me back to center,...

,...with your "objective" economic perspectives. I have been grateful,...even when your info kinda hurts my ego *LOL*.

I appreciate your close attention to all economic "predicates",...and the balance across the board.

[Frodo]

21. Welcome to the vast right-wing conspiracy.

I had no idea how truly vast it is. Since it encompases those of us who won't vote republican.

But thanks anyway.

[Just Me]

25. Oh, *LOL*, please. Are you talking about the self-serving wealthy?

That is no "conspiracy". They simply cannot help but to be a self-serving lot. It's not a conspiracy. It's public record.

Stop teasing me.

[mhr]

27. Frodo, I Criticize You Because You Spin In Favor Of Bush

Like you criticize me and others for living in the real world of no jobs.

I do believe that your posts are politically motivated in favor of Bush despite your protestations otherwise.

Your charts only tell part of the story. It is as if you want to view the world only through one lens and then don't like the fact that the facts don't filter through the lens properly.

Come spend a month with me and you will see how the other half live in Bush's economy.

Four years without any income is a long time and a lot of beans and rice.

[Frodo]

31. I may be there with you in a couple/few months.

Some potentially scary news at work. We'll see.

"It is as if you want to view the world only through one lens"

With all due respect - it is you who view the world through your own personal lense. News comes out that 100k people found work this month and your response is "but not me, so who cares?". You call your personal situation the "real world" (and it certainly is real), but ignore the fact that those numbers represent real people too.

I don't criticize peolpe for living in the real world. I criticize them for missreading without thinking. If a report comes out Thursday that initial claims has fallen to a record low 250k we'll still get some guy posting about how 250k is such a huge number and that works out to a million people a month when we only added 125k jobs "ALL of LAST MONTH!!!!". They just can't read a report.

I'm not insensitive to your situation. But I won't lie and tell you that things are getting worse when they are not.

[arlib]

19. I could care less...

....about reports issued during this administration. Their track record concerning matters of accuracy, validity, and above all, honesty tells me most of what I need to know. Though I am employed and am blessed with a decent job, most people that I know are considerably worse off now than before this administration. Personal debt and bankruptcy is rising, benefits for workers across the board are vanishing, layoffs are rampant, McJobs replace real jobs, etc.
No, I do NOT believe that charts and reports issued during this administration, sorry.

[Frodo]

20. Even when not issued BY the misadministration?

It's amazing how they have secretly taken over all of those independent orgs and universities?

The same ones we were perfectly happy with a couple years ago.

[arlib]

22. As I said....

...I'll rely on my own observation and experience.

[Just Me]

23. In this cyber-spot,...people care more, not less,...

,...and I ask you,...did anyone pick a fight with you?

No.

No.

<Compassion is priceless. Opinion is worthless in these days.>

[arlib]

24. Sorry...

...but tortured semantics are no substitute for an effective, coherent statement.
No one's looking for a fight, btw.

[Just Me]

26. Fine. Let's not "torture" semantics. Define "coherence".

After you do that, please share how that definition fits into these trying times.

<btw - I'm not picking a fight, just trying to press an understanding between us. We are capable of that, aren't we.>

[Just Me]

28. I am still waiting to be inspired by your "coherent statement".

Believe me,....I am totally open to being inspired by such wisdom.

There are many who are open to receive such inspiration,...and I do mean that in all sincerity.

[arlib]

29. Figure it out for yourself

The tenor of your post just isn't inspiring me, sorry.

[Beetwasher]

6. Yahoo Story: US job cut figures "worrisome": survey

NEW YORK (AFP) - US companies slashed more than 73,000 jobs last month as announced layoffs accelerated for a second consecutive month, a survey said.

--snip--

http://story.news.yahoo.com/news?tmpl=story&cid=1519&e=1&u=/afp/us_economy_jobs

[Just Me]

7. I have lost all capacity to react to any economic "numbers",...

,...anymore. My own precarious circumstances have completely clouded my ability to reflect on such things. Never in my wildest dreams did I imagine being an indigent, more educated and broadly experienced and a far harder worker than the pResident of the USA. I had no free rides or silver spoons. I have learned that this country is not built upon merit or talent or dedication,...but rather luck and connections and predatory practices.

See,...I have lost my capacity to objectively reflect upon reality. I've become terribly cynical.

[UpInArms]

8. I understand that reaction

all I now seem to be able to do is to witness and document the decline in my living standards and expectations. :(

[mhr]

9. Just Me - Well Said - I Used To Believe In The Work Harder Ethic As Well

After serving as a military officer, two college degrees, my commercial pilot license, and significant work experience, I no longer believe.

For me the "American Dream" is dead - killed by Republican greed and arrogance.

A future? What's that?

[abelenkpe]

10. tell me about it

I have received a promotion, but no raise in over four years. So now I do more work for longer hours for the same amount of money. But I am glad to be working. The girls who live downstairs from me used to be software engineers for Akamai. Now they serve coffee for starbucks in order to pay their college loans.

Getting a good education and working hard does not pay off like it used to.

[Just Me]

14. My youngest brother also served and "paid" for his education,...

,...he is in his mid-thirties. He served as a Marine under Bush I. He and I are nearly nine years apart; yet, we understand one another better than the rest of our family (who are still lost in rhetoric and sound bites and bullshit,...what can I say *smile*).

We don't even try to "master" this crazy world. We've learned that, the best remedy to a life that proves to be nothing but an endurance test,...is a warm, lingering hug,...an always available shoulder,...and a loving ear (along with a closed pie-hole *LOL*).

Opinions are worthless. Encouragement is priceless.

[RamboLiberal]

30. Alcoa announces 130 Pittsburgh Area IT jobs going to India

http://www.post-gazette.com/breaking/20040601alcoap5.asp

Alcoa plans to eliminate about 130 jobs locally over the next year or so, as the aluminum producer moves data processing jobs to India in order to reduce costs.

The company said 70 to 80 contractors and salaried employees at its North American Data Center in Westmoreland will be affected as well as about 40 salaried employees and 15 contractors who process accounts payable and receivable at the company’s Business Services Center on the North Side. The jobs will be eliminated over the next 12 to 18 months because they can be performed more efficiently outside of Pittsburgh, Alcoa said.

Alcoa will reduce it's regional work force by 6%. Ouch.