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Layoffs climb amid a raft of worries

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Layoffs climb amid a raft of worries

Post by Jen on Thu Jul 21, 2011 10:25 am

Layoffs are rising as companies dig in amid a slew of worries: stalled
debt ceiling talks in Washington; a looming financial crisis in Europe;
and signs the recovery is going nowhere.
The Labor Department said Thursday that applications for unemployment
benefits rose by 10,000 to a seasonally adjusted 418,000. The four-week
average, a less volatile measure, dipped to 421,250. It was the third
straight week that applications have risen.
And in a sign that hiring is sluggish, applications have also topped
400,000 for 15 straight weeks. They had fallen in February to 375,000, a
level that signals healthy job growth, and stayed below 400,000 for two
months. But applications then surged to an eight-month high of 478,000
in April and have declined slowly since then.

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Re: Layoffs climb amid a raft of worries

Post by kangaroocourt on Thu Jul 21, 2011 10:49 am

I think this uncertainty thing is way overblown. The reason businesses are laying people off is that not enough people have money to buy their products. The reason that not enough people have money to buy their products is that not enough people have disposable income, because not enough people have good jobs. It's a self reinforcing death spiral and it's damn scary.

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