Charting Stocks

California’s unemployment rate jumped to its highest level in more than 30 years, climbing to 11.2 percent as 62,100 jobs we wiped out in March.
California’s unemployment rate reached 11.2 percent in March with 62,100 job cuts, the highest rate on record. The figure contrast with a national jobless rate of 8.5 percent. The new jobless [...]

A sign of our times.
AP – Evidence of the slumping economy is stacking up at an Ohio school which has nearly 700 applications for one open janitorial job.
Officials at Perry Local Schools near Canton in northeast Ohio say they’ve extended the deadline until Monday to accommodate the overwhelming response to the week-old posting. The full-time [...]

The US Labor Department reports that  US non-farm payrolls  fell by 651,000 in the short month of February bringing the US unemployment rate to 8.1%, the highest level in 25 years.
The number of unemployed persons increased by 851,000 to 12.5 million in February, and the unemployment rate
rose to 8.1 percent. Over the past [...]

According to the ADP index, which is based on company payrolls,  U.S. private-sector firms cut 697,000 jobs in February. This is the largest job loss ever reported by ADP (Since it began collecting data in 2001).
Goods-producing companies lost 338,000 jobs, the 26th consecutive decline. Manufacturing shed 219,000, whle construction gave up 114,000.

According to a recent report, layoffs in the US technology sector rose 74.2% in 2008 as compared with the previous year. The industry was battered by an unrelenting wave of layoffs.
186,955 jobs in the telecommunications, computer, and electronics sectors were slashed in 2008 according to the report by outplacement consulting firm Challenger, Gray & [...]

While reading through TechCrunch.com I came across an interesting site which has compiled data regarding the employment climate (It ain’t pretty). The graph below is courtesy of Indeed.com. The site has tracked the amount of job openings in January 2009 versus the same time last year. Most job openings are off between 40-50% while the [...]

General Motors has announced that it will cut 10,000 jobs, or 12% of it’s global work force.
The majority of the U.S. job cuts is set to take place before May 1. The remaining GM workers are likely to see a 3% to 7% reduction in pay for the rest of the year.
GM has received [...]

The Labor Department reported that the US unemployment rate jumped to 7.6% and nonfarm payrolls fell by the largest amount in 34 years.
Nonfarm payrolls dropped by a seasonally adjusted 598,000 in January, after a revised loss of 577,000 in December.
January marked the largest payroll loss since December 1974, according to a survey of workplaces. [...]

Rule #1 when using scare tactics: Be sure you know how many people are in the labor force or even live in the US!
Nancy Pelosi warns that 500 million Americans will lose there jobs if the bailout bill isn’t passed.

Not to be excluded from the layoff crowd, Macy’s announced plans to lay off thousands of jobs. The company has also announced it will be slashing its dividend in half.
Macy’s dropped 16% on the news 16% but slightly recovered to $8.43, down 6% on the session. A year ago, the shares traded at $28 before [...]