More bad news from the job market. The UPI is reporting that US layoffs have reached a five year high:
Job cuts in the United States reached a five-year high in October, a private research group said Wednesday.
Downsizing has eliminated 875,974 jobs for the year, 14 percent higher than the total announced job cuts for 2007, Challenger, Gray & Christmas, a Chicago-headquartered outplacement consultancy, said.
In October, job cuts reached 112,884, a 19 percent increase over September and 79 percent higher than October 2007.
In layoff announcements, the financial sector topped the list with 17,949, followed by the automobile industry, which announced 15,692. In 2008, these sectors have announced a total of 239,760 layoffs, 27 percent of all layoff announcements, the report said.
Those Cube Rules Members watching the Layoff Central report have seen this through individual company announcements.
The numbers, I expect, will continue to get worse before they get better. I have been watching some leading indicator charts and they are not yet improving.
For those in jobs, keep building accomplishments and job skills – and ensure your network is in good shape through your communications with them.
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