Layoffs decline for 1st time in 3 years

[NNN0LHI]

http://www.chicagotribune.com/business/sc-biz-0224-layoffs--20100223,0,3167406.story

By Sharon Bernstein, Tribune Newspapers

9:51 p.m. CST, February 23, 2010

Large and midsize businesses continued to lay off workers through the end of 2009 but at a significantly slower pace, according to U.S. employment data.

Citing organizational changes, financial concerns and lack of demand for their products, companies let 321,569 people go in what the federal government calls "mass layoffs" of 50 or more employees during the last three months of the year.

But despite the losses, the data appear to show that the flow of pink slips from big and midsize employers is starting to subside.

It was the first time in three years that the number of layoffs dropped from one quarter compared with the year-ago period. The nationwide toll in the fourth quarter was about 50 percent less than in 2008, when 641,714 workers were cut loose.

[AllentownJake]

1. And they went back up in January 2010

http://www.businessinsider.com/mass-layoffs-jump-in-january-after-four-straight-months-of-decline-2010-2

This is bad reporting if the reporter neglects to include data from January 2010 which was available as of yesterday.

[TexasObserver]

4. Gotta agree with you on this one. Selective use of recent data.

One might think someone put out the story found in the column in the OP to try to counter the impact of your cited story.

[AllentownJake]

5. They are using the same statistics as the ones released yesterday

This is an old story. The reporter/editor was either lazy in not checking his story before it was published or something else.

[TexasObserver]

6. Probably a canned story, written by someone and provided as "background."

Probably "rewritten" by someone before publication.

[AllentownJake]

7. We can argue about where things are going

but neglecting to inform people where the most recent data shows we are is a violation of a Journalist ethics. There should be a board to impose punishment in such situations.

[TexasObserver]

8. These guys have pre fab stories provided them all the time.

They don't know or even understand economics. They can't read a graph. They get spoon fed some story and use it.

Of course, this particular journalist could be legitimately clueless and did this on his own.

[Donnachaidh]

9. "double plus good" reporting

We're seeing more and more of this Orwellian reporting, don't you think?

[AllentownJake]

10. The fact that old data was recycled the day after new data

showing the opposite coming from the same statistics, yes my antennae goes up to the intent of this article being published today.

The headline should say "After 4 months of decline, Mass Layoffs increase"

I'd be even less suspect if it wasn't for the fact this article is using the same statistic that was released with bad news yesterday.

The September through December data is not new, it has been known for over a month.

Why would someone wish to highlight that after the data changes course in January?

[old mark]

2. REC. NBC news this morning reports that there are definite improvements in the

economy and hiring in Ohio and several other midwestern states, and several more states are starting to show real positive signs of recovery. This will be great news for Democrats in November and I am sure the GOP will to to claim they did it all themselves. I think many voters will remember the GOP in November and put a few more of them out.

Remember - they want us to fail.

mark

[AllentownJake]

3. The problem is it moved in the opposite direction as it was going

In January 2010.

This is really bad reporting.

[1776Forever]

12. I am with you AllentownJake - Read my post below......

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=7782961&mesg_id=7783249

[AllentownJake]

14. Absolute ridiculous

and the 8 people recing this bad reporting should have their fucking head's examined.

[1776Forever]

11. Really? Where did they get their data from? Mars? US Jan mass layoffs edge up - link

US Jan mass layoffs edge up on weak manufacturing

http://www.reuters.com/article/idUSN239866720100223?type=marketsNews

WASHINGTON, Feb 23 (Reuters) - The number of mass layoffs by U.S. employers edged up in January as manufacturers stepped up job cuts, data showed on Tuesday, but probably not enough to alter views that the economy is on the brink of creating jobs.

The Labor Department said the number of mass layoff actions -- defined as job cuts involving at least 50 people from a single employer -- increased by 35 to 1,761. Mass layoffs had trended lower since August.

A total of 182,261 workers were affected last month. In January, 486 mass layoff events were reported in manufacturing, resulting in 62,556 workers filing claims for state unemployment benefits. It was the first increase in mass layoffs in manufacturing since August.

.........

Signs Of The Apocalypse: The Return Of The Layoff
Posted: January 25, 2010

http://247wallst.com/2010/01/25/signs-of-the-apocalypse-the-return-of-the-layoff/

Layoffs in unrelated industries, even when close together in time, are just that—unrelated. That is until they begin to grow rapidly in number.

Three of America’s largest firm announced firings or signaled them during the last week. Wal-Mart (NYSE:WMT) cut the deepest, which is frightening because it is the most financially healthy company in the world. In a surprise announcement, the world’s largest retailer said it would cut 10% of its Sam’s Club division, which means nearly 12,000 workers will get axed.

The news cannot be good for the staggering retail sector. Christmas was weak, but Wall St. assumed that Wal-Mart was doing as well as if not better than its smaller competitors. The Wal-Mart move will give other retail firms “permission” to take fresh looks at their staff levels without the stigma of announcing firings ahead of other large store chains.Xerox (NYSE:XRX) also unexpectedly said it would cut 2,500 people. It did so at the same time as it posted good earnings.....

The most critical difference between last year and this is that 10% of Americans, 17% by some measures, are without jobs. The economy has not started to add new jobs yet. Each person that a Wal-Mart, Xerox, or Oracle lets go now is put into jobless pool with a record low number of openings for each job seeker. That means there is no Dutch Boy at the dike to prevent the ongoing effects that unemployment has on housing, credit, and the government’s ability to improve income to the IRS.

............

Wish this wasn't true but how can you deny it?

:shrug:

[AllentownJake]

13. The timing of an article reporting data of the 4th quarter that has been available for a month

after a January article showing the trend has hit a snag, is very suspicious.

Particularly since it leaves out the most recent data from the same statistical set.

Bad reporting at best, something else at worst.

[Wilms]

15. This is expected. Just running out of people to fire n/t