He points to one indicator in particular with a remarkable track record: the number of Americans filing new claims for unemployment benefits. In past recessions, it has hit its peak about four weeks before the economy hit a trough and began to grow again. As of right now, the four-week average of new claims hit its peak of 650,000 in the week ended March 14. Based on the model, “if there’s no further rise, we’re looking at a trough coming in April or May,” he said, which is far earlier than most forecasts currently anticipate.

via RGE - Initial unemployment claims and the end of recessions.

New Claims for Unemployment - (4-week averages)

The state board that operates the building says it will probably use two inmates to do grounds work and another five for night cleaning.

via The Associated Press: Ohio to give prisoners laid-off janitors’ jobs.

- As of year-end 2007, a record 7.2 million people were behind bars, on probation or on parole. Of the total, 2.3 million were incarcerated.[7] More than 1 in 100 American adults were incarcerated at the start of 2008.

via PC shipments drop less than expected, HP overtakes Dell in U.S. market - TechSpot News.

via U.S. consumer sentiment highest since September - Yahoo! Finance.

via U.S. ‘Cash-For-Clunkers’ Proposal May Cover Cars From Overseas – Bloomberg.com .

Mike: The crooks and tax dodgers that have been part of the initial Obama administration is staggering. I’m sure there are a few honest, ethical and trustworthy individuals running his economic teams, but the people who show a complete lack of those positive traits seem to increase in number on a regular basis.  

- NEW YORK (AP) — An investment company run by the head of the Obama administration’s auto task force has been accused of paying more than $1 million to an aide to New York’s former comptroller in a bid to win a lucrative deal with the state pension fund.

Stuart Carlson - Apr 17

- But now a study highlights another area where workers laid off from companies with fewer than 20 workers get pinched: The 65 percent government COBRA subsidy to help people extend their health insurance is either not available to them or not as comprehensive in many states.

via 50 JOBS TO BE CUT - ObserverToday.com | News, Sports, Jobs, Community Information – Dunkirk | The Observer.

- The President of Plattsburgh State University says job cuts are coming.

via Teradyne to cut 350 jobs, further lower exec pay – Forbes.com.

via Microchip maker sets shutdown date | PoughkeepsieJournal.com | Poughkeepsie Journal.

- The Richmond, Va., company also said it cut its work force by nearly 300 jobs in the week of March 31 and plans to freeze its pension plan at the end of May.

via Anheuser Busch closing Mount Vernon warehouse — chicagotribune.com.

via Seven jobs cut at SCC – NJ.com.

- LEWISBURG — A weakened global and domestic economy has forced a Lewisburg recreational equipment manufacturer to lay off 38 employees.

via Toshiba expects bigger loss, contract job cuts - Yahoo! Finance.

via Sony Ericsson posts loss, to cut 2,000 jobs - Yahoo! Finance.

- The entire workforce of the Rousse Shipyard is being laid off until further notice as of April 27, the press service of the company has said, as reported by Dnevnik daily.

- AN INVERNESS building firm is to cease trading with the loss of 22 jobs, making it the latest casualty of the recession in the Highlands

At a news conference at WakeMed, Perdue said she would use $13.4 million in federal stimulus money to start accelerated six-month training programs for 12 occupations. She called it “12 in 6.”

via Training to match workers to open jobs - Local & State – News & Observer.

- The projects, which total $956 million, are expected to add 1,300 jobs, according to estimates. It will also repair electric lines and replace many of the state’s 2,500 miles of aging gas pipes.

via $956M in utility projects to add 1,300 jobs – NJ.com .

 

- April 16 (Bloomberg) — Research In Motion Ltd. Co-Chief Executive Officer Mike Lazaridis plans to keep hiring to spur the flow of new BlackBerry models, signaling the phone maker is withstanding a recession that forced rivals to trim payrolls.

via RIM Plans More Hiring as Rivals Cut Jobs in Recession (Update1) – Bloomberg.com .

 

- BUFFALO, N.Y. (WIVB) – Help is wanted at the New Embassy suites. They’re looking to hire up to 90 people as they prepare to open this summer, and a popular theme park is looking for 400 workers.

via Hundreds of jobs available in WNY | WIVB.co

 

- ADS Inc., a company that supplies special operations gear to the military, announced Thursday that it plans to hire 10 workers after winning a contract worth at least $153.6 million to sell flame-resistant garments to the U.S. Army.

via Beach company will add jobs after winning Army contract | HamptonRoads.com | PilotOnline.com.

 

- Faneuil said it will hire about 180 full-time employees and additional support staff for the project. It currently employs 2,400 at 12 offices statewide.

via Florida unemployment offices adding jobs, new call center - St. Petersburg Times.

 

- Jobs are hard to come by these days, but Live Nation is offering an opportunity to pick up one for the summer. The concert promoter/venue operator has nearly 1,500 seasonal jobs at The Gorge, in Eastern Washington, and Auburn’s White River Amphitheatre. Positions range from stagehands to T-shirt sellers, and pay around $9 to $15 per hour.

via Music & nightlife | Live Nation hiring nearly 1500 for summer jobs at The Gorge and White River Ampitheatre | Seattle Times Newspaper.

 

- Job creation, economic investment and the development of renewable energy will be the key points highlighted by Vice President Joseph Biden and Commerce Secretary Gary Locke during an event at the ABB manufacturing facility in Jefferson City, Mo., today, where they will join representatives of Wind Capital Group (WCG), Associated Electric Cooperative Inc. (AECI), ABB, GE Energy, United Auto Workers (UAW) and RMT to announce the development of the Lost Creek Wind Farm. This new project is expected to create over 2,500 jobs.

via North American Windpower: Content / Projects & Contracts / Biden Visits Missouri; New Wind Project Announced.

 

- Census Bureau officials want to count you — and they want you to count.

via Census looks to fill 3,000 jobs in state | greatfallstribune.com | Great Falls Tribune.

 

Mike: A  relatively quiet day again for layoff announcements of  the larger kind. Hopefully this latest week is not merely a lull in the action. I’m going out this weekend to test my new Canon camera, so if I shoot anything of interest, I’ll post for comment. I hope you all have a fine weekend.

Just a reminder, I’ll be moving this site to http://www.layofflist.org/ over the next couple of days, so don’t be surprised when you see a redirect notice when accessing this current version of The Layoff List. The new and improved Layoff List will load quicker and allow me to offer some additional items, which are not allowed at WordPress. Please visit http://www.layofflist.org/ and let me know what I can do to make your visits more rewarding. Thanks ………….

 

more about “The Daily Show with Jon Stewart Offic…“, posted with vodpod

 

 

 

Gary Markstein - Apr 17

 

 

The 610,000 new claims for unemployment insurance was 53,000 less than the 663,000 seen in the April 4 week; Labor initially reported 654,000 new claims that week.

The four week moving average in the current week fell 8,500 to 651,000, the first decline since mid-January.

via US ECON: Jobless Claims Fall to 610,000, Lowest Since Jan – Forbes.com.

via Yahoo plans to eliminate up to 600 jobs.

The New York Times and  Reuters, citing several people with knowledge of the plans, said the layoffs could affect several hundred employees and may be announced as early as Tuesday when Yahoo reports its first-quarter earnings.

via MediaFile » Blog Archive » Yahoo planning more job cuts | Blogs | .

- The Silicon Valley company is seeking buyers for the HotJobs employment site, people familiar with the company’s plans said on Wednesday, adding that other acquisitions could follow HotJobs out of the door. Yahoo struck a deal to buy the site in 2001 for $436m in cash and stock.

Initial claims for state unemployment insurance benefits fell 53,000 to a seasonally adjusted 610,000 the week ended April 11 from a revised 663,000 the week before, the Labor Department said. The slowdown of new claims for jobless benefits would be a good sign, if it continues.

In a second report, the Commerce Department said housing starts fell 10.8% to a seasonally adjusted annual rate of 510,000 units, second lowest on records dating back to 1959, from February’s downwardly revised 572,000 units.

via Mixed signals as jobless claims and housing starts both drop - USATODAY.com.

WASHINGTON (AP) — The number of American households threatened with losing their homes grew 24 percent in the first three months of this year and is poised to rise further as major lenders restart foreclosures after a temporary break, according to data released Thursday.

The big unknown for the coming months, however, is President Barack Obama’s plan to help up to 9 million borrowers avoid foreclosure through refinanced mortgages or modified loans. The Obama administration expects its plans to make a big dent in the foreclosure crisis. But it remains to be seen whether the lending industry will fully embrace it, despite $75 billion in incentive payments.

via US foreclosures up 24 percent in 1st quarter - Yahoo! Finance.

- With unemployment at 9.4 percent in Florida and nearly 50,000 new applications for food stamps each month, the state has paid JPMorgan Chase nearly $50 million over the past three years to provide food stamp program services, which include customer service call centers in Bangalore and Gurgaon, India.

“She’s got every right to be incensed,” said state Rep. Juan Zapata, R-Miami, chairman of the House Human Services Appropriations Committee. “I can understand why she would feel that this is just not a good policy. We’ll definitely look into it.”

Spokesmen for Gov. Charlie Crist and Department of Children and Families Secretary George Sheldon declined a request for comment.

via Florida food stamp jobs in India aggravate recipients, officials.

 

- LOS ANGELES (AP) — The nation’s second-largest shopping mall owner, General Growth Properties, filed for Chapter 11 bankruptcy protection Thursday in a tough bargaining move to restructure it’s $27 billion in debt.

via Mall operator files for bankruptcy protection - Yahoo! Finance.

 

 

Tom Toles - Apr 16

 

via City Cuts 10 Firefighter Jobs - News Story – WEWS Cleveland.

- The Interim Louisiana State University Public Hospital in New Orleans is planning to cut 300 jobs in response to $24 million in state budget cuts, according to the Times-Picayune.

via Harley-Davidson to cut more jobs as 1Q profit dips – Yahoo! Finance.

via Tacoma’s Russell Investments cutting 400 jobs.

via Da-Tech to close WVa plant | AP | 04/15/2009.

- SPOKANE – The local medical community is bracing for more job losses after Sacred Heart Medical Center announced it was laying off 19 positions Wednesday afternoon.

via UPDATE 1-Nomura cuts 50 investment banking jobs in Asia – Forbes.com.

- April 16 (Bloomberg) — Shinsei Bank Ltd. plans to cut “hundreds” of jobs at the consumer lending unit it bought from General Electric Co. last year as it closes branches to weather an industry contraction, the head of the division said.

via Airport renovations mean 150 jobs | Business | projo.com | The Providence Journal .

-State regulators delivered a booster shot to the state’s economy this morning, approving nearly $1 billion in utility infrastructure spending that will create about 1,300 new jobs.

via State OKs $1 billion in utility projects, creating 1,300 jobs | APP.com | Asbury Park Press.

 

- Fifty-five new natural resource conservation projects in 20 states — many having to do with building and sustaining conservation initiatives on cropland — will bring up to 1,500 new jobs into the U.S. economy in the coming months, Secretary of Agriculture Tom Vilsack said Thursday morning.

via Vilsack: Conservation projects will create 1,500 new jobs.

 

Mike: Have a great evening and I’ll see you tomorrow.…………….

 

 

more about “The Daily Show with Jon Stewart Offic…“, posted with vodpod

 

 

 

 

Don Wright - Apr 16

 

- Maybe not. In a note summarized by TheStreet.com, JPMorgan analyst Ehud Gelblum predicted today that Cisco could announce a 10% headcount reduction, which could save the company $900 million a year. Cisco could announce layoffs as part of its earnings report next month, another analyst told TheStreet.

via Cisco Could Cut 10% Of Staff (CSCO).

- Cisco Systems has dismissed predictions of a 10 per cent reduction in headcount from a JPMorgan analyst.

The Mortgage Bankers Association’s index of applications to purchase a home or refinance a loan decreased 11 percent to 1,113.2 in the week ended April 10, the lowest level in a month, from 1,250.6 the prior week. The group’s refinancing gauge and purchase measure each dropped 11 percent.

via U.S. MBA Mortgage Applications Index Fell 11 Percent Last Week - Bloomberg.com .

- Consumer Price Index

The Labor Department said its closely watched consumer price index fell 0.1%, after increasing 0.4% in February. On a year-over-year basis, consumer prices were down 0.4%, the first 12-month decline since August 1955.

via Consumer prices dip in March, post 1st annual drop since ’55 – USATODAY.com.

Empire State Mfg Survey:

- (CEP News) – Manufacturing activity in the New York region continued to decline, but at a slower rate than previously thought according to a survey from the New York Federal Reserve on Wednesday.

via Many Saturn Dealers Closing Shop - U.S. News Rankings and Reviews .

Mike: The following story shows Michigan’s deteriorating unemploymeny numbers. But what needs to be addressed is that those numbers are not the “true” unemployment numbers. When adding the other unemployed to the equation, the unemployment rate in Michigan is more likely near 17%. 

-  Michigan’s unemployment rate jumped to 12.6 percent in March, but job losses have slowed in recent months, good news for the hard-hit state.

Jack Ohman - Apr 15

Mike: I get a kick out of these reports, such as the one below, where they headline that something “soars,” yet when you look at the numbers it’s more bad news. It’s like the kid coming home from school with his latest report card and he goes, “Mom, my report card numbers soared!” After further investigation, the score soared from 9 to 14 in the scale of 50 being passing. While 14 is better than 9, soaring is a bit of an overstatement. Improved, increased, or rose might be more appropriate. While exploded upward, skyrocketed, or soared is misleading.

 - LOS ANGELES (AP) — The National Association of Home Builders says its housing market index posted its biggest one-month jump in five years in April as many homebuyers seized on lower prices and incentives.

The vote came Tuesday as employees protested raucously outside the meeting. The board had voted hours earlier to save the jobs of 1,996 elementary school teachers using federal stimulus funds.

via LA school board votes to lay off 5,400 employees.

- The Enlarged City School District of Troy plans to remove a total 62.8 fulltime equivalent positions by the end of its fiscal year to balance a proposed $95.11 million budget, which the public will vote on in May.

via UW to eliminate about 1,000 jobs by May 1.

- PITTSBURGH (AP) — ArcelorMittal SA, the world’s largest steel maker, plans to idle a plant in Indiana and lay off about 400 workers due to global economic turmoil that has dampened demand for the metal.

via Chronicle, Teamsters agree on job cuts.

- The company said it eliminated about 10 percent of its jobs, placed some workers on short weeks, and cut down on spending to cope with challenging economic conditions. It is also looking to end some supply chain contracts it signed late last year.

via BBC NEWS | Business | Swiss bank UBS to cut 8,700 jobs.

-Air France-KLM has said it plans to cut between 2,500 and 3,000 jobs over the next two years.

via Rapak Europe plans small number of redundancies | Business | packagingnews.co.uk.

- Wal-Mart, the world’s largest retailer, yesterday launched a job optimization and regrouping program to reduce labor costs in China.

via Where are the Best Cities for Job Growth? | Newgeography.com .

- More than 2 dozen new jobs are headed to central Nebraska. Governor Heineman Tuesday awarded a $406,000 grant to Covenant Doors and Millwork Incorporated in Central City.

Tomorrow brings the all important Jobless Claims report, which is expected to show jobless claims rising slightly form last week to 658,000. Till then.…………………