Unemployment initial claims jump 66000, October 10, 2013 initial claims 374000, Planned job cuts in third quarter rise 25 percent over 2012, 10 companies with 75000 job cuts
“Over the last six months, of the net job creation, 97 percent of that is part-time work,”…Keith Hall, former BLS chief
“Between 2009 and 2012, the federal government recorded the largest budget deficits relative to the size of the economy since 1946, causing federal debt to soar. Federal debt held by the public is now about 73 percent of the economy’s annual output, or gross domestic product (GDP). That percentage is higher than at any point in U.S. history except a brief period around World War II, and it is twice the percentage at the end of 2007. “…CBO September 17, 2013
“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″
From the US Labor Dept. October 10, 2013.
“UNEMPLOYMENT INSURANCE WEEKLY CLAIMS REPORT
SEASONALLY ADJUSTED DATA
In the week ending October 5, the advance figure for seasonally adjusted initial claims was 374,000, an increase of 66,000 from the previous week’s unrevised figure of 308,000.”
http://www.dol.gov/opa/media/press/eta/ui/current.htm
From 247WallSt October 9, 2013.
“Ten American Companies Cutting the Most Jobs”
“Planned job cuts in the third quarter rose 25% from a year ago. With September jobs cuts up 19% from last year, it represented the fourth month in a row in which job cuts were higher than the same month last year. Despite the current trend, employers are on pace to cut roughly the same number of jobs that were cut last year.
According to data compiled by Challenger, Gray & Christmas, 10 companies alone have announced close to 75,000 job cuts this year, combined. This represents nearly 20% of all the announced cuts in 2013.”
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