Massive U.S. Job Cuts continue, signaling an impending Economic Armageddon

Thursday, November 7, 2013
By Paul Martin

By Avalon
November 7, 2013

(INTELLIHUB) — Recently released jobs loss data from Challenger, Gray & Christmas highlights the growing decline in employment and signals an impending economic and social armageddon. The number of jobs lost from 2001 totals 12,551,440 which is detailed in the report Q1 Job Cuts Highest Since 2011 (MARCH CUTS TOTAL 49,255; UP 30% FROM YEAR AGO) published by Challenger, Gray & Christmas on April 4, 2013 [1]

2001 1,956,876
2002 1,466,823
2003 1,236,426
2004 1,039,735
2005 1,072,054
2006 839,822
2007 768,264
2008 1,223,993
2009 1,288,030
2010 529,973
2011 606,082
2012 523,362
Total 12,551,440

Using the average jobs lost over this twelve year period, one get a figure of 1,045,953. This represents the potential job loss projected for 2013. Currently, according to the data in the report on page 9, a total of 145,041 jobs were lost in Q1 of 2013.

A recent article posted by 24/7 Wall St illustrates the 10 American Companies Cutting the Most Jobs – posted October 8, 2013 by Alexander E.M. Hess and Michael B. Sauter. In the article, they explain, “Planned job cuts in the third quarter rose 25% from a year ago. With September jobs cuts up 19% from last year, it represented the fourth month in a row in which job cuts were higher than the same month last year. Despite the current trend, employers are on pace to cut roughly the same number of jobs that were cut last year. According to data compiled by Challenger, Gray & Christmas, 10 companies alone have announced close to 75,000 job cuts this year, combined. This represents nearly 20% of all the announced cuts in 2013.” [2][3]

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