Shocking news!!! Obama and his minions are fucking liars. No controllers HAD to be furloughed. These lowlife pricks chose to do it in order to generate bad publicity for the Sequester cuts. The FAA had no cuts. The chicken littles in the liberal MSM and the White House have been proven to be full of shit. The sequester reductions in spending increases have not affected the daily lives of any Americans, so they need to create fake problems. The politicians in this country are a disgrace.
It’s funny how this story hasn’t made it onto the front page of Marketwatch or the other MSM propaganda agencies. Layoffs in the 1st quarter of this year were the highest since 2011. Layoffs in March were 30% higher than last March. That is a sure sign of an economic recovery. Right?
The Obamanistas will immediately claim the surge is due to the dreaded sequester. FALSE!!!!
There were only 1,448 government drones laid off in March. For the math challenged, that equals 2.9% of the total layoffs. The devastating sequester cuts are an Obama and MSM storyline that is FALSE!!!
Retail layoffs are up 52% in the 1st three months of this year versus last year. I thought the consumer was recovering. I thought jobs were being created. Why would retailers be laying off 52% more employees than last year if the economy is improving? Inquiring minds want to know.
First quarter layoffs highest in a year
Published: April 4, 2013 at 7:31 AM
CHICAGO, April 4 (UPI) — The monthly number of layoffs at U.S. firms has exceeded the same month a year earlier for four of the past six months, a private employment firm said.
Outplacement firm Challenger, Gray & Christmas said there were 49,255 announced job layoffs in March, which was a drop of 11 percent from February, but an increase of 30 percent from March 2012 when 37,880 job cuts were announced.
March is the second consecutive month and the fourth of the past six in which announced cuts exceeded the same month of the previous year.
Add it all up and job cut announcements January through March were the highest of any quarter since 2011, the firm said.
In the first quarter of the year, employers announced 145,041 layoffs, a 5.6 percent increase from the fourth quarter of 2012, which included 137,361 job cut announcements, and a 1.4 percent climb from January through March in 2012.
Chief Executive Officer John Challenger said the retail environment looked especially precarious.
“While consumer spending is up in 2013, many retailers have been fighting for their lives since the end of the recession,” Challenger said, pointing out that Best Buy, JC Penney, Sears and Kmart have all announced job cuts recently and movie rental chain Blockbuster has shuttered its business.
Ron Johnson is the gift that keeps on giving. One of his biggest stockholders – Vornado Realty – sold 10 million shares at a price 50% below when they purchased the shares. That sounds like a vote of confidence. Johnson is also being sued by Macy’s for signing an illegal agreement with Martha Stewart. If he loses, there will be tons of empty shelves in JC Penney stores across the land. Sales are still plummeting. Of course, there are still a couple of Wall Street shills telling you it’s the best time to buy. Now Johnson fires 2,200 dedicated employees as he still collects his multi-million dollar pay package and commutes by a company Jet from his home in San Francisco.
This douchebag has to go. There is only one employee that needed to be fired and his name is Ron Johnson. The Board of Directors of this company is a fucking joke. They hired this asshole and watched him destroy a 100 year old company in one year. This is nothing but a death rattle. Unless they fire this fucker in the next month, JC Penney will be declaring bankruptcy within 12 months.
Troubles pile on in rough week at J.C. Penney
By MARIA HALKIAS
MARIA HALKIAS The Dallas Morning News
Published: 06 March 2013 11:17 PM
And Penney employees found out Wednesday that things can get worse. About 2,200 people were laid off in stores and district offices.
Some bullish analysts changed their tunes Wednesday, and the stock price has lost 35 percent of its value in just the last five trading days. Former Penney chairman and CEO Allen Questrom said the board needs to act, adding that chief executive Ron Johnson should be replaced.
The third week of a trial over a contract dispute with competitor Macy’s over Martha Stewart merchandise continued in a reporter-packed New York courtroom. The trial may be adjourned until April because of scheduling conflicts.
The Plano-based department store chain’s new low points included Tuesday’s news that 10 million shares of stock were sold by a major shareholder who, oh yes, happens to be a board member.
Wednesday, Penney’s stock price fell 53 cents to hit a 52-week low of $14.43 a share.
All that follows last week’s news that Penney lost almost $1 billion and had a sales decline of a whopping $4 billion, falling to $13 billion in 2012.
Most of Wednesday’s staff cuts happened in about 100 stores that had significant sales declines last year, and the employee count will be reduced to match each location’s new level of business, said spokeswoman Daphne Avilla.
Administrative and back office jobs were cut across the chain of 1,100 stores and in 55 district offices.
In stores, department management duties are also being consolidated.
Staff cuts “will not impact the store experience,” Avilla said. “We’re not cutting folks on the floors. And our hope is to later be in a position to build back up our workforce.”
Penney’s stores, which range from under 65,000 square feet in small towns to more than 200,000 square feet in major malls, employ from 50 to 400 people per location.
Martha Stewart trial
Finally, on Friday, even if the trial isn’t over, New York Supreme Court Justice Jeffrey Oing will decide what sheets and towels Penney can sell starting in May when the retailer plans to have new home departments ready for shoppers. Martha Stewart designed products in a few categories that were believed outside her agreement with Macy’s.
Last summer, the judge issued a temporary order that prohibited Penney from selling Martha Stewart-branded products in the key home categories of bed, bath, tabletop and cookware. Instead, Penney developed products in those categories with Stewart’s help under the Everyday brand.
On Friday, Oing will rule whether Martha Stewart Living’s involvement in designing that product violated the Macy’s contract.
Penney is developing alternate plans and will make a statement after the judge rules, Avilla said.
Questrom, who spent five years in the early 2000s at Penney pulling it out of years of missteps, is frustrated that the board hasn’t forced Johnson to take his ideas to Middle America more slowly and test new merchandise and pricing.
“All these people are worried about Johnson keeping his job. It’s crazy,” Questrom said in a phone interview Wednesday. “What about all these Penney employees?
“It’s an old company, and he’s putting the nails in the coffin if they don’t start making some changes. There’s no reason to wait another quarter.”
The board “has allowed this to go on too long,” Questrom said. “I have to believe they are looking for his replacement.”
Penney board chairman Tom Engibous, the retired chairman and CEO of Dallas-based Texas Instruments Inc., didn’t respond to a request for comment. Other board members also declined to comment.
Johnson declined a request for an interview as well.
One could say that board member Steven Roth, chairman of Vornado Realty Trust, commented on Johnson’s performance and Penney’s prospects Tuesday when he sold 10 million shares of Penney stock. Roth and Pershing Square Capital founder William Ackman joined the board in 2011 after they amassed a 26 percent stake in Penney. Ackman has been Johnson’s most vocal supporter on the board but hasn’t commented this week.
On Wednesday, some analysts who had supported Johnson’s plans to turn Penney into a collection of mini shops within stores and adopt an everyday-low-prices strategy downgraded Penney.
Citi’s top retail analyst, Deborah Weinswig, visited Plano on Tuesday and met with Johnson and other top executives. She concluded that Penney will either continue limping along and spending money or the company will be sold and/or “senior leadership” will leave.
She downgraded Penney to a neutral rating from a buy and titled her report: “Wish I knew then what I know now.”
“We believe the potential for asset sales, a private takeover and senior leadership changes could support the shares and limit further downside from here,” Weinswig wrote.
Oppenheimer analyst Brian Nagel downgraded Penney stock after concluding that the company could go through all of its $900 million in cash this year and continue to post losses.
“The market is unlikely to afford JCP any benefit of the doubt until clear evidence of a turn emerges,” Nagel wrote in a report.
Johnson promised a year ago that Penney’s transformation would be self-funded, but asset sales were necessary last year and will likely continue, analysts said. JPMorgan analyst Matthew Ross said Penney will probably have to borrow money to keep building new shops.
Below are two facts that seem to indicate we’ve got a problem. The MSM has been dutifully reporting that Bernanke, Geithner and Obama saved the country by saving Wall Street with our money. The MSM has also been dutifully reporting that those very same beloved Wall Street banks have been generating hundreds of billions in profits over the last three years. Relieving loan loss reserves does wonders for the bottom line. A critical thinking individual might wonder why the bank stock index is at the same level it was in 2009, if we have truly had three years of awesome profits. One also might wonder why in the world would Citicorp be laying off 11,000 employees if the economy is improving and Wall Street banks are solvent.
The truth is that all of the Too Big To Succeed Wall Street Criminal Banks are INSOLVENT!!!!
If they were forced to use Mark to Market accounting, as they were required to do up until Bernanke forced the FASB to bend over, they would be BANKRUPT.
If a bank cannot make a real profit when having unlimited access to Federal Reserve fiat dollars at 0%, you know the jig is up.
Citi Firing 11,000
Submitted by Tyler Durden on 12/05/2012 09:04 -0500
Big news ahead of this Friday’s NFP report:
- CITI TO CUT OVER 11,000 JOBS, TAKE PRETAX CHARGE $1B IN 4Q
“Sandy’s fault?” Or maybe the economy is collapsing despite all the propaganda one is spoonfed. Considering the recent termination of over 50,000 by UBS we think we know the answer. And while C stock may jump on the news, the end result is that New York and the US have both just lost 11,000 less key taxpayers most of whom are almost certainly in the $250,000+ bucket. That said we can’t wait for the BLS to take this data as somehow beneficial for the unemployment rate.
For some perspective into the all-important banking sector, today’s chart presents the current trend of the KBW Bank Index. As today’s chart illustrates, banking stocks peaked back in early 2007. The impact of an already weakening real estate market began to take its toll and banking stocks began to trend lower at an ever-increasing rate. This weak banking sector performance ultimately preceded the recent financial crisis. Following a post-financial crisis rally into early 2010, banking stocks have traded in a fairly flat/choppy manner (though with a slight downward bias — see red resistance line). Since late 2011, however, the trend has been up (see green line). With banking stocks having recently pulled back from resistance and currently testing support, this all-important sector is fast approaching a critical decision point.
I thought unemployment was dropping. The biggest companies in the U.S. have announced 22% more mass firings this year than last year. The announcements of layoffs are coming fast and furious as accounting tricks can no longer hide the fact that revenues and earnings are falling. We already know that small companies are not hiring, so a critical thinking person might ask how the unemployment rate keeps dropping. I have a feeling the number of people NOT IN THE LABOR FORCE will be surging upwards in the next few BLS misinformation reports. We now have a perfect storm for employment in the U.S.
- Mega-corporations are laying off thousands.
- State and local governments must layoff people as they try to balance their budgets without help from the Feds
- Obamacare will keep small businesses from hiring and completely stop entreprenuers from starting businesses
- Major retailers and restaurant chains will convert full time workers to part time workers to avoid the impact of Obamacare
- The recession and continued layoffs will result in lower consumer spending, which will result in more retailers going under, closing stores, and laying off workers
- The 2% payroll tax cut will expire on January 1, resulting in an immediate decline of disposable income of $1,000 for a median income family and $2,000 for a family making $100,000.
- The uncertainty of the fiscal cliff will keep all businesses from making any hiring or capital spending decisions.
So, based on these facts, the brainless twits on CNBC say it’s the best time to buy stocks. The shysters at the National Assoc of Realtors say it’s the best time to buy a house. What do you think?
Firings Reach Highest Since 2010 as Ford to Dow Face Sales Slump
By Chris Burritt
Ford Motor Co. (F) and Dow Chemical Co. (DOW) joined a growing number of companies firing thousands of workers as sluggish U.S. growth and Europe’s deepening recession lead to a persisting slump in sales.
North American companies have announced plans to eliminate 62,600 positions at home and abroad since Sept. 1, the biggest two-month drop since the start of 2010, according to data compiled by Bloomberg. Firings total 158,100 so far this year, more than the 129,000 job cuts in the same period in 2011.
Ford is closing its first European car-assembly factories in 10 years, adding to more than 5,500 cuts announced by Dow Chemical, DuPont Co. and Advanced Micro Devices Inc. (AMD) in the past week. The reductions coincide with a majority of U.S. companies missing analysts’ third-quarter revenue estimates and a focus on jobs in the final weeks of the U.S. presidential campaign.
“Companies are saying, ‘Let’s not build up inventories, let’s be lean and mean until we know until we have a better idea of what 2013 is going to look like,’” said Janna Sampson, who helps manage more than $3 billion for Oakbrook Investments in Lisle, Illinois. “There is a fear now as companies see that the economic recovery is not picking up.”
So far, out of 204 S&P 500 companies that have released third-quarter earnings, 120 have reported sales that trailed analysts’ estimates, according to data compiled by Bloomberg.
Those results, similar to the S&P 500′s second-quarter performance, signal employers may increase firings over the next two quarters, according to John Challenger, chief executive officer of Challenger, Gray & Christmas Inc., a human resources consulting firm based in Chicago.
Sales misses are “a sure prescription for layoffs starting to heat up as companies take immediate action to show their shareholders how responsive they are,” Challenger said yesterday by telephone.
The U.S. unemployment rate fell below 8 percent in September for the first time since January 2009, and a surge in firings may counteract job gains elsewhere in the economy.
The technology hardware and equipment industry has announced the most job reductions among North American companies this year with 41,200, led by Hewlett-Packard Co. (HPQ)’s announcement in September that it plans 29,000 cuts, more than it originally disclosed. Banks are next with plans to eliminate more than 19,000 positions, according to Bloomberg data.
AMD, the second-largest maker of processors for personal computers, said last week it will cut 15 percent of its staff, or about 1,665 jobs, after forecasting fourth-quarter sales that fell short of analysts’ estimates.
Restructuring measures designed to trim annual costs by about $190 million are “difficult but necessary steps to ensure our plan has the right scale and scope to address the market and competitive challenges we now face,” Rory Read, chief executive officer of the Sunnyvale, California-based company, said on an Oct. 18 conference call.
The closing of about 20 plants in the U.S. and abroad will eliminate about 2,400 jobs, Midland, Michigan-based Dow Chemical said this week. DuPont, based in Wilmington, Delaware, plans to trim 1,500 jobs after third-quarter profit trailed analysts’ estimates and it reduced its full-year forecast.
Earlier this month, Cummins Inc. (CMI), a Columbus, Indiana-based engine maker, said it expects to erase as many as 1,500 jobs by the end of 2012 and lowered its forecasts for sales and profit.
“A lot of companies have been positioned for continued growth and we’re seeing some stagnation or a modest decline,” Andy Kaplowitz, a New York-based industrial analyst for Barclays Plc, said in a telephone interview on Oct. 24.
U.S. companies are also restructuring European operations to stem the slowdown. Kimberly-Clark Corp. (KMB) said this week it plans to cut manufacturing and administrative operations as it exits the diaper business in western and central Europe, except for Italy, to concentrate on faster-growing regions. The Dallas- based company didn’t say how many workers may lose their jobs.
Ford, the second-largest U.S. automaker, is closing a factory in Genk, Belgium, by the end of 2014. A second plant in Southampton, England, will shut as early as next year, said two people familiar with the situation, asking not to be identified revealing internal plans. In contrast, the Dearborn, Michigan- based automaker has added more than 6,500 hourly jobs in the U.S. this year through early September, Todd Nissen, a spokesman, said in an e-mail.
Companies based in western Europe have also accelerated large-scale job reductions this year as the recession in the European Union worsens. Services and manufacturing shrank more than economists forecast in October and business confidence in Germany, Europe’s biggest economy, dropped to the lowest in more than 2 1/2 years.
“We’re seeing uncertainty about whether Europe will make it or not,” Diane Swonk, chief economist for Mesirow Financial Holdings Inc. in Chicago, said in an interview.
Among western European companies, there have been 47 job- cut announcements so far this year involving at least 1,000 workers, compared with 32 in the same period of 2011, according to the data compiled by Bloomberg. The peak month was July, with 39,800 firings. That brings the year-to-date total for the region’s companies to 165,700, up from 162,420 in the same period a year earlier, the data show.
Alcatel-Lucent SA (ALU), the Paris-based phone-equipment maker whose stock is trading near a 23-year low, said last week it plans to trim 5,500 positions worldwide, including about 1,400 in France. The reductions will primarily affect sales, marketing and administrative employees, said Simon Poulter, a spokesman.
Lighting company Royal Philips Electronics NV, based in Amsterdam, is eliminating 2,200 additional jobs to wring out an extra 300 million euros ($389 million) as economic conditions deteriorate. Munich-based Siemens AG (SIE), the maker of high-speed trains, turbines and medical gear, has identified about 8,000 potential cuts globally, and the number that may reach 10,000 by year-end, a person familiar with the plan said this month.
Back in the U.S., companies are hesitant to expand until they know the result of the presidential election and how lawmakers will handle the so-called fiscal cliff, or the $607 billion in tax increases and spending cuts set to take effect in January if Congress doesn’t intervene. Inaction probably would cause a recession in the first half of 2013, according to the Congressional Budget Office.
The world’s largest economy probably grew at a 1.8 percent annual rate in the third quarter after expanding at a 1.3 percent pace in the previous three months, according to the median forecast of economists surveyed by Bloomberg before an Oct. 26 Commerce Department report. It would be the first back- to-back readings lower than 2 percent since the U.S. was emerging from the recession in 2009.
“We are operating in a world where demand is still very weak,” Jeff Fettig, CEO of Benton Harbor, Michigan-based Whirlpool Corp. (WHR), said in an Oct. 23 interview. The world’s largest appliance maker boosted its 2012 adjusted earnings forecast this week, helped by the elimination of 5,000 jobs in the past year.
To contact the reporter on this story: Chris Burritt in Greensboro at email@example.com
Hasn’t someone told Bank of America or American Airlines that QE3 is going to save the economy? Ben Bernanke is practically handing Bank of America hundreds of billions of free cash. Doesn’t AMR realize that people love to fly now that the TSA has our back – and our balls and our anus? Don’t they realize the housing market is experiencing a dramatic recovery? I heard it on the news yesterday. Don’t they realize that Obama is winning in the polls and his wise leadership of the economy will transcend for another four years? Who cares about debt ceilings and fiscal cliffs. There is free healthcare to dole out. I can’t believe these foolish companies are going to layoff over 20,000 people before year end. These fools just aren’t watching the MSM. These are the best of times.
September 20, 2012 by 247wallst
The math is very crude. The Wall Street Journal reports that Bank of America Corp. (NYSE: BAC), still desperate to turn itself around, will fire 16,000 people this year. Compare that to the 100,000 jobs a month, on average, that the American economy has added in 2012. That puts the financial firm’s layoffs in some perspective, although many economists would say one company’s downsizing and national employment numbers are apples and oranges.
The apples and oranges criticism is right. But Bank of America is not the only large company that faces a weak economy and the results of years of poor management. Even executives at well-run companies have begun to sweat about the financial cliff, and Europe, and China, and housing, personal debt and consumer confidence. The same worries extend down to tens of thousands of smaller companies. The long knives have come out, or are about to, wielded by managements across a wide array of industries and located in almost every geographic section of the country.
One theory about unemployment in the United States is that QE3 will help the jobs market, and that Congress and the Administration will not change the tax system. And, additionally, consumers may rush to stores this holiday season and salvage what is already a troubled retail industry — an industry that is one of the largest employers in America. All of a sudden, the jobs situation will improve and the joblessness number will plunge well below 8% as 2013 begins.
But too many companies have trouble that looks like Bank of America’s, or perhaps not as bad, but bad enough. Add to the private sector the effects of austerity and low tax receipts among municipalities and states. Many months, the largest drag on the official jobs figure is layoffs in the public sector.
Bank of America is a unique case. The financial firm has struggled to stay viable against a sea of lawsuits and a portfolio of bad loans. But, if the economy were in fine shape, Bank of America probably would not be so badly off. Neither would a huge number of other U.S. companies – whether or not they are run well.
Douglas A. McIntyre
September 19, 2012 by 247wallst
American Airlines, whose parent AMR is in Chapter 11, will use that status, a staple of the industry, to send layoff notices to 11,000 workers. The people who receive the notices can take comfort that only 4,400 actually will lose their jobs. As AMR pushes to emerge from bankruptcy, and likely to merge with US Airways Group Inc. (NYSE: LCC), it has been able renegotiate contracts, cut debt and severe plane leases. It has become a perfect marriage partner for another carrier, ready to create yet one more consolidation that eventually will prompt another round of firings.
Earlier this week, the Transportation Department released its monthly report card on the airline industry. Across most major indicators of passenger treatment, United Continental Holdings Inc. (NYSE: UAL) finished last. The position was blamed on the merger with Continental, which followed the marriage of Delta Air Lines Inc. (NYSE: DAL) and Northwest. The sector continues to shrink as jet fuel stays high, debt burdens remain a back-breaking burden and passenger counts stay low. And, for the most part, the leaner industry treats passengers less well than in the past.
The International Air Transport Association, the association of carriers worldwide, reported recently that this year will be worse financially for carriers than it expected at the start of the year. The cost of fuel was the top culprit. The hedging mechanisms many airlines put into place have been inadequate. So, members of the industry have returned to the route of bankruptcy, which has served them so well over many decades, while stiffing banks and lease companies — and cutting jobs.
AMR has gotten most of what it wanted out of Chapter 11. It has become viable, at least financially. It may be smaller, but even without US Air it will be better able to compete with mega-carriers United and Delta, as well as the overseas airlines that compete with it in Europe, Asia and South America. All that, and from a perspective other than AMR’s, 4,400 layoffs and poor service for one more group of fliers.
Douglas A. McIntyre
Below is a brief story that was on the front page of my local paper this morning. It reflects the real world, not the MSM Obama world of spin and misinformation. You can believe the stories of economic recovery and jump on board the stock market train, but it is all a farce. Here is a small company without union labor that has been making plastic forks and spoons for sixty five years in this community. There will be 490 people with families to support out of work in two months. This is a downward spiral that shows no sign of reversing. They simply ran out of money.
The real question is why. How come they were able to make a profit for decades and now have to shut their doors? It’s because Chinese slave labor can produce these plastic utensils at a fraction of the cost of this small company. We have to ask ourselves whether it was worth it to be able to buy a box of Chinese produced plastic utensils at Wal-Mart for $2.00. Would the country have been better off if we had to pay $4.00 for a box of American produced plastic utensils because we imposed a tariff on the Chinese slave labor produced products?
HATFIELD TWP. — Jet Plastica, a Hatfield Township-based business that has manufactured plastic forks, spoons, cups and more for half a century, will close within months.
“We’re just frankly out of money. We can’t go forward without a buyer,” he said.
Located at 1100 Schwab Road across from Georgia Lane since 1982, Jet Plastica was originally founded as two separate companies. One of which, Plastica Company Inc., was founded in North Wales in 1947 and manufactured plastic spoons, forks and knives, according to the company website, www.Jetplastica.com.
Jet Container Corporation was founded in Lowell, Mass. in 1962 and manufactured plastic cups, before a series of sales culminated in Jet Container being purchased by Plastica in 1982 as the combined company moved into Hatfield Township.
The company operates manufacturing facilities in Hatfield and in Fowler, Calif., employing a total of approximately 490 people, according to Gerrard. Roughly 380 workers are employed in Hatfield and 110 in California.
All of those employees were notified Thursday that their jobs will soon be coming to an end, Gerrard said Monday, and the company has already begun that process.
“This will be a gradual wind-down that will take place between now and probably sometime in June. We’ll just gradually decrease our activity between both sites,” he said.
He added that the company leases the Schwab Road property but declined to comment further on its ownership. Montgomery County property records indicate the property has been owned by a Mass.-based company called May 12 Realty L.P. since 1994, when it was purchased for $3.3 million, and the property was most recently valued at $5.6 million.
Funny how Marketwatch buried these two stories without fanfare. When unemployment claims were falling due to seasonal adjustments they had blaring bold headlines about the tremendous jobs recovery. Now unemployment claims have risen for THREE straight weeks and there is barely a peep. How about the data from Challenger & Gray? ANNOUNCED job cuts are up 18% in the first two months over last year. WTF??? I thought the jobs market was doing fabulous. Obama tells me so. Every freaking news station tells me we are having strong jobs growth. Isn’t the unemployment rate plummeting? The BLS wouldn’t lie.
It seems these inconvenient facts don’t fit into the current storyline being peddled to the masses. Back to your regularly scheduled propaganda.
U.S. weekly jobless claims climb 8,000 to 362,000
By Jeffry Bartash
WASHINGTON (MarketWatch) – Jobless claims in the U.S. rose to the highest level in five weeks, climbing by 8,000 to a seasonally adjusted 362,000, the Labor Department said Thursday. Economists surveyed by MarketWatch had estimated claims would rise to 355,000 in the week ended March 3. Claims from two weeks ago were revised up to 354,000 from 351,000. The four-week average of claims, meanwhile, rose by a scant 250 to 355,000. The monthly average smoothes out seasonal quirks and provides a more accurate view of labor-market trends. Continuing claims – payments to people already approved for jobless benefits – increased by 10,000 to a seasonally adjusted 3.42 million in the week ended Feb. 25. Continuing claims are reported with a one-week lag. About 7.39 million people received some kind of state or federal benefit in the week ended Feb. 18, down 111,222 from the prior week. Total claims are reported with a two-week lag and are not seasonally adjusted.
Feb. layoff announcements fall 3%: Challenger
By Steve Goldstein
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