US Layoffs Surge To 6-Month High: Challenger

[Purveyor]

Source: CNBC

Layoffs surged in January to the highest levels since July as employers in the retail and energy sectors pulled out the pink slips, according to a private survey out Thursday.

U.S.-based companies announced 75,114 planned job cuts last month, up more than 200 percent from a 15-year low in December, according to global outplacement firm Challenger, Gray & Christmas. That figure was also 42 percent higher from a year ago.

Retailers were the biggest job cutter, despite a nearly 8 percent bump in U.S. holiday sales in 2015. The sector slashed 22,246 positions, a seven-year high.

Wal-Mart accounted for much of the payroll reductions. The nation's largest retailer said it plans to close 269 stores and expects to let go 16,000 workers.

Read more: http://www.cnbc.com/2016/02/04/us-layoffs-hit-75114-in-jan-surging-to-6-month-high-challenger.html

[ErisDiscordia]

1. Tsunami Alert!

right on schedule....

[LiberalArkie]

2. A lot were good paying Verizon jobs. The severance package ran out in January thus

just now being reported. At least the guys making $100,000 plus will get jobs soon at McDonalds and will not not show up as unemployed.

[George II]

3. I wonder how that compares to January 2015? Jan. layoffs tend to be higher than some other months.

[Midnight Writer]

6. My exact thought. Retail layoffs after Christmas season are common.

The six month comparison is bogus. You would almost think that someone is wanting to create fear and apprehension about our economy. Likewise with the uptick in new unemployment claims. Yes, there is an increase, but that is compared to very low numbers in the past few months. The new figure is still considered low.

[former9thward]

7. The Department of Labor adjusts for seasonal variations.

[underpants]

4. This is a big concern about the election

Not passing over the damage this does to the families.

A big economic dip or a terrorist attack will give the mindless a reason to vote for what they think is strength.

[onehandle]

5. Clearly this is the fault of those in charge of Congress. Every single one.

Every. Single. One.

Every sitting Senator and Representative is responsible. Why aren't they all in the Capitol working on this?

Obama is in Washington. But not Senators and Representatives.

Hmm...

[HeiressofBickworth]

8. Sprint just laid off 2,500

My son-in-law was one of them. I'm told that he is fortunate to be laid off in the first round because they are the ones that get the better severance package. His last day will be next Friday. He's 48, IT worker, just what are his chances of finding a job as good or better than the one he just lost.

[trillion]

9. Depends where he is. IT has taken a lot of hits from layoffs and replacements by H1B's over the

years. Now most of those jobs are as contractors and they are very unstable. I know because I'm a contractor - Systems Engineer in the computer industry. I wish him luck.

[romanic]

10. Its been a bloodbath here in MI

with the layoffs. Two companies up here announced layoffs in the hundreds. Thanks Snyder with your RTW bullshit.

[whatthehey]

11. Reminder of scale

There are about 5 million separations and about 5 million job starts every month in the US.