Reply #82: Tech job cuts up 18.8% so far in '05 [View All]

[UpInArms]

'Job creation simply has not materialized,' says John Challenger

http://www.computerworld.com/careertopics/careers/labor/story/0,10801,105516,00.html

OCTOBER 18, 2005 (COMPUTERWORLD) - Technology job cuts for the first three quarters of the year were up 18.8% over the same period in 2004, according to Challenger, Gray & Christmas Inc., a global outplacement company.

For the third quarter of 2005, U.S. businesses cut 41,439 technology jobs, an increase of 4.3% over the 39,720 tech jobs cut in the previous quarter, according to the Chicago-based company (see "Tech job cuts show Q2 dip, study says"). For the first three quarters of the year, tech job cuts are up 18.8% over the same period in 2004, with a total of 140,696 jobs lost. That compares with 118,427 tech jobs lost in the first three-quarters of last year.

Unlike other U.S. industries that have seen cuts -- even as new jobs were being added -- the tech segment has lost jobs without a similar rate of hiring to offset the cuts, John Challenger, CEO of Challenger, Gray & Christmas, said in a statement.

"The gradual slowdown in job cuts would be more encouraging if it were complemented by a rise in hiring, but job creation simply has not materialized," Challenger said. "The industry may indeed be recovering when it comes to revenue, profits and earnings, but certainly not when it comes to employment."

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These people are so funny! They actually believe the lies that are spewed forth about job creation and they sit and scratch their arses when there are no jobs. They don't get that the BOL now makes a job up for every child that is born - you just come on into this country now squirming, squealing and working!