Double Digit Unemployment Looks More & More Likely
You’re Fired! That is what the Labor Department is dealing with on a growing basis. The January unemployment rate of 7.6% just got replaced by a number of 8.1% for February. And the non-farm…
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Newest first · Page 100Imagine That, Jobless Claims Softer Than Estimates
This morning we have seen the weekly jobless claims. While economists are always noting that unemployment is a lagging indicator, go ask anyone in the unemployment lines how lagging this feels. The numbers were…
Jobs & Durables So Bad, A Possible Inflection Point?
If you were hoping for any remotely positive economic data this morning, the news is not just a disappointment. It is really awful. The data on weekly jobless claims is above recently normal levels. …
Cisco Layoffs & Executive Change (CSCO)
Cisco Systems, Inc. (NASDAQ: CSCO) has laid off several hundred workers and named a new Executive Vice President of its Worldwide Operations.
The Pain Continues at Nortel (NT)(NRTLQ)
Things just got darker at Nortel Networks (OTC-NRTLQ) (Former “NT on NYSE). The company today announced an additional 3,200 job cuts.
Anglo American is Digging a Big Hole (AAUK, RTP, ACH, AU, ABX, NEM)
The bigger they are, the more noise they make when they fall. British miner Anglo American plc (NASDAQ:AAUK) has canceled its dividend for the fourth quarter, suspended its $4 billion share buyback program, and…
As Feds Even Look at 9% Unemployment, Jobless Claims Keep Mounting
As if the ongoing jobs data was set to get any better after yesterday’s FOMC Minutes calling for 9% unemployment by the end of the year, we just got another fresh round of weekly…
Stimulus Effect On Green Energy & Green Jobs
All told, the $789 billion economic stimulus bill contains about $50 billion for renewable energy projects, electric utilities, and other green companies. It’s possible to look at this sum in at least a couple…
Jobless Claims Continue Blistering Pace
The weekly jobless claims data has surpassed the dreaded 600,000 mark. The last week’s unemployment lines were down 8,000 to 623,000. We had weekly jobless claims numbers expected as 610,000 versus an unrevised 626,0000…
Pink Slips At Wal-Mart HQ? (WMT)
Wal-Mart Stores Inc. (NYSE: WMT) was supposed to be a winner in the economic slide as the “trade down” shopping destination. It goes without saying that Wal-Mart has more than a few critics. Now…
Intel’s $7 Billion Gamble… Too Much? Too Soon? (INTC, AMD, NVDA, AMAT, KLAC, NVLS)
Intel Corporation (NASDAQ: INTC) is making a huge gamble on high- paying jobs and manufacturing. It isn’t cuts. Intel plans expansions for the inevitable recovery ahead. $7 billion worth.
GM’s Pre-Congress Hail Mary… Cuts & Hikes (GM)
General Motors Corp. (NYSE: GM) is doing almost whatever it can to get aggressive in cost cuts and streamlined operations ahead of its first post-bailout review next week. Some of the cuts were known,…
When Does Detroit Run Out Of People To Cut? (GM)
GM (GM) is preparing to go through another round of layoffs. It has hopes, which are probably futile, that it can push out enough people, in addition to getting creditor concessions and supplier price…
After 7.6% Unemployment, Double-Digit Risks Now Look Real
The dreaded and feared employment data is out, and it isn’t pretty. Unemployment came in at 7.6% and the change in non-farm payrolls was -598,000. Dow Jones had estimates at 7.5% unemployment and non-farm…
Jobless Claims Set Ominous Tone for Unemployment
We just found out the new numbers for the weekly bread lines at the US Labor Department for the week ended January 31. Initial jobless claims have now total 626,000. This is a gain…