August Lay-Off Plans Up 47%

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US employers announced plans to lay-0ff 51,144 people in August up 47% from a year ago, according to Challenger Gray

The numbers may worsen because of austerity moves by government at the state, federal and local level.

“Unlike previous months, the government job-cut announcements in August were not dominated by state and local agencies. Instead, the federal level led the way with heavy reductions among the civilian and officer ranks across three branches of the military. More workforce reductions at the federal level are undoubtedly coming down the road. Congress and the White House are under immense pressure to cut federal budgets and while the heaviest cuts are due in 2014, we will probably begin seeing some fallout starting this year and into 2012,” said John A. Challenger.

The problems will joblessness have begun a shift to government which the private sector may not be able to offset.

Douglas A. McIntyre