More bad news is coming on the jobs front, if Challenger, Gray & Christmas is right in its assessment. The report for the month of October shows that layoffs rose by 41% from the prior month after having seen lowest levels in about two years. As you see with the Labor Department reports, there is a seasonality winding down in the fourth quarter as businesses budget ahead.
The report shows that U,S,-based employers have said that they plan to cut 47,724 jobs in October. While it is up 41% from September and can be partly explained by the seasonality, the report is still up 12% from October of 2011. This also represents the highest reading since May, when companies were planning for a slowdown ahead of the summer.
It was the Automotive sector cutting the most jobs, with 11,615 planned cuts. Other sectors leading the cuts were consumer products, electronics and industrial goods.
If you looked at the newest 2012 layoff kings, this increase in layoffs should be of little surprise.
JON C. OGG
Credit Card Companies Are Doing Something Nuts
Credit card companies are at war. The biggest issuers are handing out free rewards and benefits to win the best customers.
It’s possible to find cards paying unlimited 1.5%, 2%, and even more today. That’s free money for qualified borrowers, and the type of thing that would be crazy to pass up. Those rewards can add up to thousands of dollars every year in free money, and include other benefits as well.
We’ve assembled some of the best credit cards for users today. Don’t miss these offers because they won’t be this good forever.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
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