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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.
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
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.
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.