Planned U.S. job cuts rise

[UpInArms]

http://www.theglobeandmail.com/servlet/story/RTGAM.20040803.wjobs0803/BNStory/Business/

Planned U.S. job cuts jumped 8 per cent in July while expected hiring fell 30 per cent, suggesting the U.S. employment market continues to struggle to gain momentum, outplacement firm Challenger, Gray & Christmas said Tuesday.

According to the report, job-cut announcements totalled 69,572 in July, up 8 per cent from 64,343 in June.

However, the July level was also 18 per cent lower than the 85,117 cuts announced in the same month a year earlier. July was the fifth month this year in which announced job cuts were below year-earlier levels.

Since January, U.S. employers have announced 24 per cent fewer employment cuts than during the same period in 2003, mirroring the recovery in the U.S. employment market seen earlier this year.

...more...

Are there just fewer jobs left to cut?

[ixion]

1. ah, and the job-loss 'recovery' thunders on

:eyes:

[Bandit]

2. Great campaign slogan "We lost fewer jobs this year than last"

:shrug:

[AlCzervik]

3. That would explain part of the TERRA! alert

The numbers come out on Friday for July.

[AndyTiedye]

4. That's the REAL "Left Behind" Story - America's Workers

Their former employers are regaining profitability by hiring cheap foreign labor.

Our workers got left behind.

[tjwash]

6. Regaining? They've been profitable all along.

The CEO's execs and stockholders are just being downright greedy now.

[NewYorkerfromMass]

5. Wow. Lots of bad econ. news today

But don't look to the stock market for confirmation- Wall Street just LOOOOOOVES downsizing and increased profits.