Announced Job Cuts Rise 212% From Year Ago

I hate to be the bearer of bad news... Planned job CUTS rise 212% while Planned job HIRINGS decrease 38%! AND, almost ALL of the planned Job Hirings are TEMPORARY holiday jobs.

www.bloomberg.com...

U.S. employers announced the most job cuts in more than two years in September, led by planned reductions at Bank of America Corp. (BAC) and in the military.

Announced firings jumped 212 percent, the largest increase since January 2009, to 115,730 last month from 37,151 in September 2010, according to Chicago-based Challenger, Gray & Christmas Inc. Cuts in government employment, led by the Army’s five-year troop reduction plan, and at Bank of America accounted for almost 70 percent of the announcements.

Keep in mind while reading this that September is the last month of the government's fiscal year. So to break it down, almost all planned job cuts are in the military and at Bank of America. Almost all of the planned job hirings are temporary holiday hirings.

Government agencies announced 54,182 reductions in September. Of those, 50,000 resulted from the troop reductions announced by the Army

Financial companies announced 31,167 cuts, the second most layoffs. Bank of America, the biggest U.S. lender by assets, said it will eliminate 30,000 jobs in the next few years

Then look at this and remember that the holiday season is coming up so these jobs are not permanent jobs.

Today’s report also showed that employers announced plans in September to hire 76,551 workers, up from 15,201 the prior month, while down from 123,076 in the same month last year. Retailers led the gains, planning to add 70,912 positions ahead of holiday.

Some economic recovery, huh????

Who didn't see this coming? Seriously...who doesn't see this crap coming anymore?

As I said in another thread, we haven't hit bottom yet. The worst is yet to come. The trouble we have seen is nothing to the trouble on our way. There are entire communities full of empty homes being kept off the market to artificially inflate prices. That is just one example of the bubbles hanging over our heads like the sword of Damocles.

Thread already started on the forum....

www.abovetopsecret.com...

You know it almost looks like the tax breaks for the "job creators" isn't working. Where is the trickle down we've been hearing about? It's time to say no jobs then no tax breaks.

Originally posted by buster2010
You know it almost looks like the tax breaks for the "job creators" isn't working. Where is the trickle down we've been hearing about? It's time to say no jobs then no tax breaks.

No, it's time to say no jobs, then smaller entitlements or, even better, no entitlements.

Please add any comments to the existing thread found here...

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