Mike: Hello to all.
Today’s much anticipated monthly Employment Situation number will show the extent of job losses and indicate whether the job market is improving or continues to deteriorate. The consensus is that the unemployment rate will increase from 7.6% to 7.9%. As i have mentioned on this site repeatedly, those numbers don’t adequately reflect the extent of unemployment, which is currently closer to 13% than 8%. Many so called analysts think this may be the worst number yet, but then we can expect improvements. Why those improvements are expected baffles me, but I’m no expert.
Mike: As usual, the experts are clueless:
WASHINGTON (AP) — The government says the nation’s unemployment rate bolted to 8.1 percent in February, the highest since late 1983, as cost-cutting employers slashed 651,000 jobs.
AP – Job seekers join a line of hundreds of people at a job fair sponsored by Monster.com on Thursday, …
The Labor Department’s report shows America’s workers being clobbered by a relentless wave of layoffs.
The net loss of 651,000 jobs in February came after even deeper payroll reductions in the prior two months, according to revised figures. The economy lost 681,000 jobs in December and another 655,000 in January.
Mike: Here again are the real unemployment numbers as opposed to the reported reported numbers. I do this on a monthly basis to remind my regular readers that unemployment is worse than reported by the government and to inform my new readers of the same. The following graph from John Williams’ Shadow Government Statistics shows REAL unemployment, or unemployment including “discouraged workers” (which were counted in the unemployment numbers prior to 1998) is over 18%! So when you hear people spout that the unemployment rate of 8.1% is still lower than the 10.8% which occurred in 1983, you will know they are misleading you.
The following graph from John Williams’ Shadow Government Statistics shows REAL unemployment near 18%:
* The SGS Alternate Unemployment Rate reflects current unemployment reporting methodology adjusted for SGS-estimated “discouraged workers” defined away during the Clinton Administration added to the existing BLS estimates of level U-6 unemployment.
Until the Clinton administration, a discouraged worker was one who was willing, able and ready to work but had given up looking because there were no jobs to be had. The Clinton administration dismissed to the non-reporting netherworld about five million discouraged workers who had been so categorized for more than a year.
The Clinton administration also reduced monthly household sampling from 60,000 to about 50,000, eliminating significant surveying in the inner cities. Despite claims of corrective statistical adjustments, reported unemployment among people of color declined sharply, and the piggybacked poverty survey showed a remarkable reversal in decades of worsening poverty trends.
- Microsoft/Google/IBM and other Rumors/News
General Economic News
US and some Canada Layoff News
- Mike: There’s a request to fill a few international auto engineering postions in the Hiring News section:
* Amazon.com’s release of a free e-book reader for the iPhone proves that Apple is simply not interested in the electronic book market, one expert said today.
“It’s a very smart move for Amazon, which first and foremost is in the business of selling books,” said Gartner Inc. analyst Van Baker. “Adding the iPhone [reader] is smart and will solidify their position as the go-to source for e-books.”
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* March 6 (Bloomberg) — The U.S. unemployment rate surged in February to the highest level in more than 25 years and the economy lost more than 600,000 jobs for a third consecutive month, pointing to further reductions in spending.
Payrolls fell by 651,000 and revisions for the prior two months lopped off an additional 161,000 jobs, the Labor Department said today in Washington. The jobless rate surged to 8.1 percent, more than forecast and the highest since December 1983.
* U.S. retailers slashed 39,500 jobs in February as they keep closing stores and getting rid of sales staff amid the spending slump. But the pace of cuts appears to be moderating, another sign that the worst may be behind the industry.
* This all adds up to a total of not quite 1,500 law firm jobs eliminated in a little less than a week. And, of course, the total could well be higher if so-called stealth layoffs were made by other law firms also struggling to cope with dismal economic conditions. Although the Latham layoffs properly are included in last month’s total, it appears that March mayhem is well under way.
* YAKIMA, Wash.- The Department of Social and Health Services is cutting more jobs as our economy worsens. Around 120 notices were sent out to DSHS employees across the region.
* GALVESTON — Galveston public school district trustees Wednesday cut 163 positions, including 99 teachers, in the district’s second round of layoffs.
* The Vallejo school board voted unanimously Wednesday night to issue layoff notices to 248 employees because of an anticipated $8-$11 million deficit in the 2009-2010 school budget.
* By the end of next week, at least 25 Livermore School District teachers will have received preliminary layoff notices in the mail. The notices aren’t an automatic pink slip. The final notification does not happen until May 15. Even then there is a slim chance some positions could be restored by the start of the 2009/10 school year.
* ANAHEIM – The Anaheim Union High School Board voted Thursday to cut 151 jobs as part of an effort to erase a looming budget deficit.
* In the past 12 months, Hernando County has either eliminated or shuffled around 56 full-time employees, representing almost 7 percent of its 759-member workforce, according to county Human Resources statistics.
* Earlier in the meeting, Chambers announced a total of 17 positions for layoffs; only four of those positions are currently filled.
* The Orlando Police Department will cut an unspecified number of jobs as part of a departmental reorganization, city officials said Thursday. OPD employees have been told that jobs will be shed as part of the reorganization, said Sgt. Barbara Jones, a police spokeswoman.
* Six employees have been laid off in Paradise Valley, the first such staff reduction for the town, prompted by a decrease in workload tied to the anemic economy.
* APPLE VALLEY • The Apple Valley Unified School District unanimously voted to issue pink slips to 48 teachers and counselors on Thursday evening.
* Local workers at Gulfstream will be taking up to a month off as part of a work reduction program, according to an announcement Thursday from General Dynamics, which owns Gulfstream. In addition, the company will lay off 1,200 workers (about half full-time employees and half contract employees) at its five locations including Savannah, Brunswick, Appleton, Wisconsin, Dallas,Texas and Long Beach, California.
* CANDIAC, Que. – Komatsu America Corp., a Japanese heavy equipment maker, plans to close its Canadian plant south of Montreal later this year, cutting 245 jobs.
* INDIANAPOLIS — Indianapolis-based Emmis Communications announced Thursday it would trim more than 100 positions from its media divisions.
* FARGO, N.D. (AP) U.S. Bancorp says it has cut 20 positions at its service center in Fargo.
* March 5 (Bloomberg) — Some New York Jets employees have been told to take two weeks of unpaid leave later this year as the National Football League team seeks to trim expenses with the economy in recession.
*Among the cost-saving measures: Senior executives will voluntarily cut back salaries up to 15 percent, cash bonuses of nearly $400,000, and options earned by Ghauri and two divisional presidents were voluntarily forfeited and layoffs of up to 15 percent of he company’s almost 1,000 employees, mostly in Pakistan.
* U.S. Steel is shutting its Lorain Tubular Steel Operations for at least two weeks, laying off about 77 employees.
* Methodist Medical Center will save from $3 million to $4 million this year through layoffs announced Thursday.
* Several of the towns’ larger businesses — including plastics manufacturer Nypro Inc., bookbinding and publishing company Dunn & Co., and the Perkins School — have seen layoffs this year, although not all the major employers are making cuts: Clinton Savings Bank and Weetabix, among others, have no plans to pare their workforces.
* TERRE HAUTE, Ind. (WTHI) – Thursday, the plant manager at Certainteed confirmed to News 10 that about 60 employees will be temporally laid off. About two weeks ago, the company laid off 25 workers.
* Employees of Halliburton Energy Services, one of the largest drilling contractors in Colorado’s Piceance Basin, were laid off Thursday, the company confirmed.
There was no word on how many Halliburton employees were let go.
* REGINA — Evraz Inc. will lay off 75 workers at its Regina steel mill on March 21 — the first layoffs in the company’s steel division in more than 15 years — due to the downturn in oil and natural gas drilling.
* CHARLESTON, W.Va. — KS of West Virginia, an auto parts maker in Silverton, Jackson County, announced it has laid off 19 workers because of a reduction in orders.
* It owns Renewable Environmental Solutions, a Carthage plant that turns turkey processing byproducts into fuel. It laid off almost all of the plant’s 50 workers this week.
* GRAND BLANC, Michigan — General Motors plans to lay off 185 employees at its Grand Blanc Weld Tool Center — one-third of its total workforce there — and there are no promises about when or whether those jobs will return.
* CITING losses stemming from the global economic downturn, the NagaWorld Hotel and Casino laid off 15 Cambodian employees on February 26, Sok Narith, the head of hotel’s 1,000-member union, told the Post Wednesday.
* The companies said they met Thursday with officials of the Canadian Auto Workers Local 1067 to discuss the closing, which they expect by year end. The plant has 165 employees.
* WATERTOWN, N.Y. — Nearly 250 employees of a Watertown medical products plant will all be laid off in the next 12 to 18 months after they were told the plant is closing.
* Many of the jobs held by the 55 employees currently working at the Erwin plant will reportedly be transferred back to the Sanford campus.
“We believe that a vast majority of the employees will be offered the opportunity to continue their employment at Pentair in our Sanford location should they choose,” said Pete Dyke, Pentair Water-Pool’s vice president of human resources.
* Joe Goldcamp, general manager for the Ford City-based Nature’s Blend, said the company laid off 22 workers Friday between the Redbank Valley and Ford City plants.
* More than 120 workers at Crane Plumbing on Erie Street learned yesterday the plant will be closed by May.
* In all, 550 employees at plants in North Carolina and Tennessee are losing their jobs as a result of the closing, including 232 at plants in Belmont. More than 1,200 Gaston County workers are scheduled to lose jobs this month in mass layoffs at Stowe, Freightliner plants, Parkdale Mills and Auto Truck Transport.
* External Affairs Director Kimberly Templeton said five of the Roanoke mu-seum’s 33 full-time employees were laid off Tuesday. One full-time worker will go on contract status.
* With a financial earthquake shaking up the ranks of the world’s biotech companies, Bradmer Pharmaceuticals has opted to cut back as it loses hope in finding new operating capital. Bradmer is cutting 13 jobs–70 percent of its staff
* Dallas-based D Magazine confirmed on the D Frontburner blog that the magazine will be cutting 12 staff positions, approximately 12 percent of its total work force.
* Forest City Enterprises Inc. (NYSE: FCEA, FCEB) has informed 100 people nationwide — half of them in Northeast Ohio — that their jobs will be eliminated, spokesman Jeff Linton said.
* AMHERST – While the University of Massachusetts is trying to answer a projected $46 million deficit without knowing what will be available in federal stimulus benefits, 60 more non-tenured faculty were notified they would not be reappointed for next academic year.
* A high-powered New Haven-based law firm has laid off 14 attorneys, as the recession deals another blow to the legal industry.
* Beverly Hills based interior design and development management firm, Candy & Candy Inc., announced to its staff recently (Monday 2nd March 2009) that it would be making staff reductions across the team.
* CONTINENTAL – Employees at New Millennium Building Systems in Continental will no longer have a job after May 3.
Company officials said it would be closing the Continental plant as part of a consolidation with a plant located in Butler, Ind. Plant Manager Craig Bracken said they were notified of the closing on Tuesday.
* Employment at the Topeka Goodyear Tire & Rubber Co. plant will fall by 200 to 225 employees through buyouts and layoffs.
* FedEx Corp. is transferring 68 Anchorage-based pilots to new assignments elsewhere, a further sign the world economic crisis is beginning to gnaw more deeply at the local economy.
*BRISTOL, Tenn. – Triad Packaging Inc. laid off 12 workers here Monday to offset a downturn in revenues this year, said Mike McFerrin, the company’s chief financial officer and chief operating officer.
* Lufkin Industries laid off 173 oil field division employees Friday, according to company officials.
* ABERDEEN, S.D. (AP) – A Minneapolis-based company, Verifications, says it has laid off 27 people at its three locations in South Dakota.
* “My understanding is that six positions were eliminated in the newsroom and there were layoffs in other parts of the operation,” said Holman.
* Stinson Morrison Hecker LLP laid off 30 staff members on Monday, a group of workers that did not include lawyers.
* Player was one of about 230 ArcelorMittal’s Georgetown plant workers who will be furloughed for several weeks, between Sunday and April 6, as the company deals with the economic downturn. The temporary layoffs will be done in two shifts.
* Pillsbury Winthrop Shaw Pittman laid off 55 lawyers and 100 staff on Thursday, finalizing a move revealed by an indiscreet partner on an Amtrak train last month.
* Another 51 union employees will be laid off from Shelbyville’s Pilkington North America Co. plant by the end of this month, company officials told workers this week.
* Spanish-language radio/television giant Univision changed the format of one of its Houston radio stations Sunday and laid off 19 Houston employees as part of what the company described as a 6 percent cut in its workforce nationwide.
* “We have a total of 93 employees and of those, right now, we’ve got 21 laid off,” Doug Brown said Thursday. “Most of those people would be sewing machine operators and assembly people.”
* Roswell Park Cancer Institute, bracing for a significant loss in revenue as its state funding declines, today laid off 27 employees.
* BAR HARBOR — The Jackson Laboratory will cut its work force by four percent over the next two weeks, in an attempt to combat what managers are referring to as a “challenging financial situation,” lab officials announced Thursday.
* STOCKTON – With the recession continuing to take its toll on newspaper and advertising sales, The Record announced Thursday the layoff of 12 employees from its staff of about 295.
* LeTourneau Technologies announced Thursday afternoon that the company is laying off 118 Longview workers effective immediately.
* Delta Petroleum Corp., which has significant Piceance Basin holdings, laid off several employees this week.
* Inventory and some employees would be moved to other dealerships, but other workers will be laid off, he said. Cannon would not say how many.
* Free Press publisher Bob Cox confirmed Thursday five Free Press employees lost their jobs in the second round of layoffs at the newspaper this year.
via Winnipeg Free Press.
* SUNBURY — Ten managers have been laid off from Knight-Celotex, according to one of the terminated workers, perhaps signaling the beginning of the end for the struggling fiberboard plant.
* The University will eliminate about 60 staff positions by July, as many as half of which may require layoffs.
“At least 30 to 35” of the cuts will eliminate currently vacant positions, but the rest will be made through layoffs, said Beppie Huidekoper, executive vice president for finance and administration.
* ArcelorMittal has discharged 51 probationary employees at its Burns Harbor facility.
* Deere & Co (DE.N), the world’s largest maker of farm machinery, said on Friday it would lay off 325 people from its construction and forestry divisions due to lagging demand.
* BALTIMORE — M&T Bank will lay off about 29 percent of employees at Provident Bankshares Corp. when the banks merge in May.
M&T Mid-Atlantic Division President Atwood Collins III told The Baltimore Sun that M&T will eliminate 521 Provident jobs and keep 1,305 positions.
* Sir Martin Sorrell has set a target of 2,000 job cuts this year to help WPP, the world’s second largest advertising and marketing company, weather the brunt of the downturn.
* Freemans Grattan Holdings (FGH), the home shopping group, is to axe more than 1,000 jobs as it cuts costs to help it trade through the recession. Its chief executive, Koert Tulleners, told the fashion magazine Drapers: “We are finalising consultations now, but I can confirm we are closing a warehouse in Peterborough, our office in London and a call centre in Bradford. This will affect more than 1,000 jobs.”
* Australian regional lender Bank of Queensland Ltd (BOQ.AX) is to cut 150 positions, or about 10 percent of its staff, by the end of March, the bank said on Friday.
* The National Trust for Scotland, (NTS), has announced that up to 90 jobs could be cut from its workforce, almost a fifth of its full time staff.
* Production of some parts will be transferred to a neighboring plant, and a total of 329 of the plant’s 508 employees will be offered jobs in this and other Faurecia facilities.
Faurecia will help the remaining 179 employees find employment elsewhere.
* Cost cutting will be one theme of the strategic review that National Australia Bank will present to the market next Thursday. The Herald Sun reported that hundreds of full-time equivalent roles in Australia will be axed under the revamp, including contractors and permanent staff.
* Yacht makers continue to feel the economic pinch. Today it was announced that luxury yacht firm, Princess Yachts will be cutting up to 450 jobs. The cuts represent almost a fifth of the workforce.
* RBS international told staff that 90 jobs had to go across its businesses in Jersey, Guernsey, the Isle of Man and Gibraltar.
* Six people have lost their jobs and 20 others face the axe at a flagship Rotorua company as a result of new technology and the recession.
* The Belfast Telegraph has learned that Belfast Education and Library Board’s budget could be down by as much as £7m.
And Ulster Unionist education spokesman Basil McCrea said that he understands there could be up to 40 compulsory teacher redundancies in each education board area in a bid to save cash.
* “We took out more than 60 staff in February and it’s fair to say that we will continue to reduce the headcount in the second half,” said Bannatyne.
* AN ADELAIDE optical firm laying off 95 workers a fortnight after receiving Government funding makes a mockery of Prime Minister Kevin Rudd’s commitment to job security, the Federal opposition says.
* Regional newspaper publisher Archant plans to cut almost a third of editorial staff from its operation in Norfolk as it introduces an integrated editorial system across its Eastern Daily Press and Norwich Evening News titles.
* Toyota Boshoku Group in Thai-land, a leading manufacturer of automobile seats and other interior components, expects to lay off 126 workers as sales are likely to decrease by Bt6.84 billion this year, group chairman Shozo Ishikawa said yesterday.
* Rogers Stirk Harbour & Partners, Zaha Hadid Architects and Gehry Partners have all revealed redundancies this week.
Rogers announced plans to make 35 of his 160 staff redundant on Monday, while Frank Gehry revealed to the LA Times that he has been forced to halve the number of staff working for him over the past year.
* Broking firm Tolhurst says about 30 jobs will be cut as it merges with Patersons Securities, The Herald Sun reports.
* New Delhi: As many as 3,000 employees at NBFC Fullerton India, a Mumbai-based credit company, have been laid off.
Mike: I was asked if I would post the following information regarding positions that need to be filled quickly. I’m still looking to see how to post the Word documents, but if you want further information now, contact Mr. Walia at firstname.lastname@example.org . Take a look and best of luck :
As of now, I will not be able to disclose the name of the company because of confidentiality agreement signed with the company, until the Resume of desired applicants are short listed by the company for further round of assessment.
We are looking for the following profiles, given as under:
Asst General Manager (exterior & interior Design) / Min 12yrs exp / Exp in styling design of Automotive Exterior & Interior from creating concepts, CAD & Clay Modelling etc
Safety Engineer / Min 8yrs exp / Exp in Automotive Component & Crash Safety related testing & development, Compliance to regulatory req, Dummy Calibration, Crash Instrumentation etc
Clay Modeler / Min 15yrs exp / Should have aesthetic sense like sculptor with engineering logic, strong exp in Clay Modeling & managing activities related to Clay Models
JDs for the said positions are attached with the mail, for your kind perusal. Here, I would like to clarify, that we do not charge any service fees/ registration fees/ any other fees from candidates, whether successful or unsuccessful.
You can write to me at email@example.com
These openings are very critical, hence if anyone is interested would suggest an early revert.
* Mike: reader Kelly sent me this interesting piece: 100 CREATIVE, PAINLESS (AND EVEN THERAPEUTIC) WAYS TO DOWNSIZE YOUR LIFE AFTER A LAYOFF , which includes a number of useful tips on how to save some extra cash during those difficult days following a layoff. Take a look and save a few dollars.
Mike: If your organization has any relevant and useful information for the readers of The Layoff List and you would like to see it posted here, send me a note at Mike@layofflist.org.
* Despite the recession and almost daily layoff announcements from major companies, many employers across the country are actually hiring.
Mike: A busy week that ends with an increasing unemployment number. I’m ready for some good news, so let’s end the week with a smile or two……….
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