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Job Rolls Continue To Shrink And The End Is Not In Sight


Economic Trends

JOB ROLLS CONTINUE TO SHRINK--AND THE END IS NOT IN SIGHT

Corporate layoffs just keep on going, and going, and going....

According to Challenger Gray & Christmas Inc., an international outplacement company, 48,786 layoffs were announced in September, the third-highest monthly total this year. Worse, 21% of the employers announcing layoffs in September have downsized two, three, and even four times since the beginning of the year. The top three industries in layoffs for September were communications, chemicals, and transportation. So far this year, layoff notices have totaled 449,364, and the leading industries in terms of layoffs have been aerospace, computers, and retail. There doesn't appear to be any relief in sight, at least at the nation's largest companies. A recent American Management Assn. survey found that the pace of layoffs will accelerate over the next six months.CHRISTOPHER FARRELL


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