Announced U.S. Job Cuts Rise 212% From Year Ago

Alex Kowalski
Bloomberg
October 5, 2011

U.S. employers announced the most job cuts in more than two years in September, led by planned reductions at Bank of America Corp. (BAC) and in the military.

Announced firings jumped 212 percent, the largest increase since January 2009, to 115,730 last month from 37,151 in September 2010, according to Chicago-based Challenger, Gray Christmas Inc. Cuts in government employment, led by the Army’s five-year troop reduction plan, and at Bank of America accounted for almost 70 percent of the announcements.

While the bulk of firings are not “directly related” to economic weakness, they “could definitely be a sign of more cuts to come,” John A. Challenger, chief executive officer of Challenger, Gray Christmas, said in a statement. “Bank of America is not the only bank still struggling in the wake of the housing collapse, and the military cutbacks are probably just the tip of the iceberg when it comes to federal spending cuts.”

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10 Responses to “Announced U.S. Job Cuts Rise 212% From Year Ago”

  1. “But Barry said the recession ended in 2009 … it can’t be true. . .”

    Heck, as far as I’m concerned, merely calling it a recession is dishonest. Recessions normally last only one to two years; and usually they’re much overdue corrections of overpriced commodities after an economy was over evaluated. In retrospect, a recession isn’t a big deal, and shouldn’t break a generation.

    A hyperinflation or a depression on the other hand usually lasts 10 years. . .

  2. Welcome to Amerika

    {{{news}}}

    infowarrior 76 (dot) com
    infowarrior 76 (dot) com
    infowarrior 76 (dot) com

  3. Botery can quit blaming Georgie Porgie. This is all happening on his watch, so what is this crook doing about our jobs? WAKE UP, AMERICA!!!

  4. i believe it, tho i got this from yahoo news right here:
    Stocks stumble in early trading- AP September layoffs spike to two year high-OR Stocks edge higher as service sector grows Reuters which freakin news is the one that is actually correct??????? do you start to get the picture??sheeple go to infowars dot com or youll be this kind of brain dead moron like the news writers

    • Umm, this is infowars.

  5. How’s that “Change…you can believe in” going? Suckers

  6. This is Barry Obama’s way of creating jobs.

    • I guess Soetoro considers unemployment compensation, a job…

  7. But Barry said the recession ended in 2009 … it can’t be true.

    • The teleprompter made him say it!! It’s not his fault…

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