Layoffs at 11 Month High

Challenger, Gray & Christmas released their February 2011 layoff report which shows layoffs surged 32% in February to 50,702.

The 50,702 job cuts announced last month was up 32 percent from January’s 38,519. It was 20 percent higher than the 42,090 planned layoffs announced in February 2010. This marks the first year-over-year increase in monthly job cuts since May 2009 when job cuts totaling 111,182 surpassed the 103,522 layoffs announced the same month a year earlier by seven percent.

While Challenger, Gray & Christmas seem to be blaming high gas prices, the details in the layoffs paint a different picture:

The largest portion of layoffs last month came from government and non-profit employers, which announced 16,380 job cuts, up 154 percent from 6,450 in January and 196 percent higher than a year ago when 5,528 job cuts were announced in February. While most of the cuts occurred at the state and local level, the United States Postal Service announced that it reduced its headcount by 5,600 in recent months.

This is your government at work, with a 154% increase in government and non-profit layoffs. Government layoffs are directly attributable to the never ending state budget deficit malaise and the claims one must stiff Federal Workers in order to reduce them (which is false).

Retail sector layoffs increased 44% and we've seen a slowdown in consumer spending, with more money going to gas and food.

Exercises for the Reader from the January 2011 Unemployment Report

Remember in school when there was a problem so tough even the Professor couldn't figure it out? Remember how teachers and even textbooks would say this is an exercise left for the reader instead of admitting the problem wasn't easily solved? Such is our employment situation report.


The ADP survey says the United States lost 84,000 private sector jobs in December.

Nonfarm private employment decreased 84,000 from November to December 2009 on a seasonally adjusted basis, according to the ADP National Employment Report®. The estimated change of employment from October to November was revised by 24,000, from a decline of 169,000 to a decline of 145,000.

The decline in December was the smallest since March of 2008. Employment losses are now rapidly diminishing and, if recent trends continue, private employment will begin rising within the next few months.

December’s ADP Report estimates nonfarm private employment in the service-providing sector increased by 12,000, the first increase since March of 2008. However, this employment growth