Posted on 05/06/2003 3:21:19 PM PDT by sourcery
CHICAGO, May 5 (UPI) -- Job cuts soared 71 percent in April as U.S. businesses announced plans to eliminate 146,399 positions, according to Challenger, Gray & Christmas, an international outplacement firm.
The Chicago-based recruitment company, which has tracked corporate layoff announcements on a daily basis since 1993, said Monday that 57,927 jobs cuts were in government, the largest single monthly toll in any sector since September 2001.
Telecommunications lost 11,397 jobs, industrial goods, 9,614 positions; consumer products, 7,077; commodities, 6,995; and transportation 6,944 jobs.
Challenger's monthly job cut report showed the 146,399 cuts announced last month was 71 percent higher than the 85,395 jobs cut in March, and 30 percent higher than the 112,694 layoffs announced in April 2002.
So far this year, 502,194 pink slips have gone out to U.S. workers, but that's 10 percent fewer than the 555,783 layoffs announced during the first four months of 2002.
Workplace expert John A. Challenger blamed the stagnating economic recovery.
"The sharp increase in job cuts last month should serve as a warning that it is premature to conclude that the quick end to the war in Iraq will bring a quick turnaround in the economy and job market," said Challenger, the firm's chief executive officer. "With the strength of the economy still in doubt, it is unlikely that companies will be in a hurry to undertake expansion and job creation."
A recent survey by the Business Roundtable found only 18 percent of companies planned to increase capital spending in 2003 and only 9 percent of executives said they expected to hire new workers this year.
Forty-five percent of companies surveyed expected to trim their workforces.
Copyright © 2001-2003 United Press International
Perhaps a quick end to NAFTA and GATT might bring about that quick turnaround.
I'm sure the Free Traders will have other explanations, though.
We still need to immigrate 57,000 more legals each week to fill jobs, and another 57,000 illegals have to sneak in to fill the other jobs that americans will not take.
This is a bit troubling; it is hard to believe that 45% of all companies are overstaffed. There are, of course, incredible pressures – especially on publicly traded companies – to cut costs. It is possible to cut too drastically and, when demand grows, the capacity to fill that that demand does not exist. Not to mention the fact that higher unemployment close to the election will almost certainly favor the Democrats.
Quality high quantity printing is really cheap from Japan and China. Even considering freight. Not quite as affordable, but still very low priced, Canada has some good printers and turnaround and delivery can be had in just a few weeks. With the Canadian sources, you can do everything, design, graphics, proofs, seperations, payment, ... everything ... over the internet. No tarrifs, taxes, import laws, etc. to hassle with.
Democrats gleeful (though outwardly "deeply saddened").
Try not to think of them as foreigners. Think of them as imported products, like a pair of jeans or a television set.
My husband is an accountant (corporate). When the computer jobs starting leaving, I said "Phew, glad we aren't computers".
When I heard of other industries being hit (architecture, etc.) I said "Phew, ..."
Now, we are hearing financial jobs being sent to India (American Express or Deloitte & Touche). My husband says "Do they even have an understanding of GAAP accounting?
I guess it will be our turn next. Maybe we can come up with the $250,000 for a Subway franchise.
Why should they? American accountants demonstrated during the Clinton years that they sure as hell didn't understand GAAP...
I wish it was. I really, really wish it was.
A few months ago I designed and ordered some new business cards (not a real big purchase, but a representative one). It required four color printing and a glossy overcoat finish to get what I wanted. The best quote I could get locally was in the neighborhood of $160.00/thou and about a month for delivery. I hit the internet looking for a better deal ( actually, I was as interested in faster delivery as in price) and ended up ordering two thousand for about $85.00 delivered (for the whole 2 thousand). I did absolutley everything right over the internet. Just sent the design directly to the printer from my computer , paid via credit card, and had the two thousand absolutely beautiful cards in about 10 days via FedEx. It wasn't till I was throwing the box out and was taking the packing slip out for my records that I noticed they had come from Canada.
I have a brother in law in the printing business (doesn't print cards or small quantities). You wouldn't believe how many American printers sub out jobs, or part of them, to other countries now days.
You have to understand that with declining business volume (or declining local production), a company that was fully staffed last year is overstaffed this year with the same number of employees. IOW, if you shift production overseas, you are overstaffed at home, even if your sales are increasing, if you don't get rid of some people.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.