Layoffs Rise 68 Percent in April

[lonestarnot]

Reuters
Published: Thursday May 1, 2008

http://rawstory.com/news/2008/Layoffs_Rise_68_Percent_in_April_0501.html

NEW YORK (May 1) - U.S. companies' planned layoffs jumped 68 percent in April from the prior month to the highest since September 2006, pointing to further deterioration in the labor market, a report showed on Thursday.

Planned job cuts in U.S. companies totaled 90,015 last month, up from 53,579 in March and up 27 percent from a year earlier, employment consulting firm Challenger, Gray & Christmas Inc. reported.

The April layoffs were the steepest since the 100,315 cuts announced in September 2006.

[ayeshahaqqiqa]

1. The slide in income of our company started in the fall last year

and has steadily gotten worse. People just aren't buying much of anything because they've either lost their jobs or are fearful they will soon lose them.

[neverforget]

2. and the stock market is up almost 200 points.....I'll never understand

the psychology of the market when good news is good news and bad news is good news. :shrug:

How are more people not working, inflation rising, house prices crashing and credit harder to come by good news? Doesn't that equal less people able to spend money? :shrug:

[nadinbrzezinski]

3. Simple, and I will use Home Depot as an example

they are laying off 1500 people

Check

But their internal money situation is in the black and they can meet dividend payments

If you only think next quarter (and they do)... then the stock exchange will go up... even though the economy is going off the deep end

Of course this is only SHORT TERM

Notice that it has not really moved beyond a certain range FOR MONTHS now... like oh two quarters, and in real 2000 dollars it hasn't risen since StOOPID took over

[lonestarnot]

4. What don't you understand about the richies keeping the market propped. They've stolen enough to

keep 5 markets propped.