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Planned job cuts announced by U.S. employers totaled 132,590 in April, a 12-percent drop from the 150,411 layoffs recorded the previous month, according to a report released on Wednesday by global outplacement consultancy Challenger, Gray & Christmas.
This was the lowest monthly total since 112,884 cuts were announced last October, but still up 47 percent from the 90,015 job cuts announced in the same month of 2008.
Originally posted by marg6043
Well it seems that many of the fat rats sitting at the fed board are complaining that this type of test should be kept hidden and away from scrutiny because they affect the Markets negatively.
Financials were under pressure in premarket trading, but actually rallied into the open after reports quelled concern that major banks may need to raise outside capital in order to satisfy the government's bank stress tests.
Financials were under pressure in premarket trading, but actually rallied into the open after reports quelled concern that major banks may need to raise outside capital in order to satisfy the government's bank stress tests.
Originally posted by Vitchilo
Financials were under pressure in premarket trading, but actually rallied into the open after reports quelled concern that major banks may need to raise outside capital in order to satisfy the government's bank stress tests.
This is so full of it. Those banks should have PLUNDGE by 15% not gained 15%... This is really criminal manipulating the markets like that.
Originally posted by stander
Originally posted by RetinoidReceptor
Guys why be angry at the irrationality of things? Either friday or right after things will tank again. Don't whine, just buy puts/short to profit off being right that things are absolutely nuts and stupid. I wonder if the April jobs report will destroy this rally for a while. There is a group estimating around 745,000 jobs lost in April! That would dampen things...
www.thedisciplinedinvestor.com...
TrimTabs Investment Research estimated today that the U.S. economy shed 745,000 jobs in April (20,000 more than their March job loss estimates) as wages and salaries plunged an adjusted 5.7% year-over-year. TrimTabs estimated that the economy shed a record 5 million jobs in the past 12 months.
"If job losses continue at the present rate, the unemployment rate could top 10% by summer," said TrimTabs CEO Charles Biderman.
In a research note, TrimTabs reported that income tax refunds are up 16.5% year-over-year this year, providing a short-term boost to consumption. Unfortunately for the economy, however, the support from refunds is winding down.