Economic Sign to Watch for in September

[mrsteve]

Heard about this on the radio on the drive home last night. The name "Challenger, Gray & Christmas" got my attention, because they are the largest outplacement firm in the country, thus having a very good grasp of the strategies and trends on job cutbacks.

CNN Money Link

"After a slow summer for layoff announcements, the pink slips could start flying after Labor Day, according to a study released Tuesday by a layoff-tracking firm.

The weeks immediately following the Labor Day holiday are typically among the worst of the year for layoffs, said John Challenger, CEO of Chicago outplacement firm Challenger, Gray & Christmas, which publishes monthly reports of layoff announcements.


"You are 25 percent more likely to lose a job after Labor Day than in the preceding eight months," Challenger said. "The reasons: employers are finalizing budgets and business plans for 2004, and payroll levels are heavily impacted by both." "
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So if we see a flood of layoffs in September, I guess it means that Big Business doesn't think next year is going to go well. And that *'s economic plan is a lot of hot air.