most of the WSJ writers in the other departments
As far as this numbnut,Allan H. Meltzer, is concerned:
134,000 Lost Jobs in August 'Mass Layoffs'
http://www.washingtonpost.com/ac2/wp-dyn/A2082-2003Sep25?language=printerMore U.S. workers lost their jobs in large layoffs in August, the Bureau of Labor Statistics reported yesterday, another sign that employers are continuing to trim payrolls even as the economy strengthens.
The BLS tracks what it calls "mass layoffs," or firings of more than 50 workers in a single month by a single employer, by compiling reports on initial claims for unemployment benefits filed with state agencies. The numbers include temporary and permanent firings.
About 134,000 workers lost their jobs in 1,258 mass layoffs nationwide last month, up from the 128,103 employees who were fired in 1,248 such actions in August 2002, the BLS said.
The mass-layoff report is a snapshot of monthly employment changes across the country. Manufacturing took the hardest hit of any sector in August, accounting for nearly a third of all mass layoffs and more than a third of the number of workers who lost jobs, the report said. Job losses also were reported in transportation equipment, textile mills, machinery and food manufacturing.
California, New York, Illinois, North Carolina and Texas had the most mass layoffs, the report said.
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Levi closing North American plants
September 26, 2003
SAN FRANCISCO, - Struggling blue jeans maker Levi Strauss & Co. said Thursday it would close its remaining North American plants, leaving nearly 2,000 employees out of work and completing its long exit from the U.S. manufacturing business.
The job cuts and plant closures are part of the latest restructuring at the 150-year-old company, which has fallen on hard times as both cheaper discount brands and pricey designer labels have cut deeply into its market.
Earlier this month, Levi Straus, said it would cut 650 jobs and seek waivers from its lenders, while it sought new financing and tried to better compete with lower-price apparel makers.
The company, like many apparel companies, has found it much cheaper to send its production overseas. After it closes its remaining North American plants - in San Antonio, Texas; Edmonton, Alberta; and Stoney Creek, Ontario - it will out-source manufacturing to plants all around the world, many concentrated in Latin America.
(snip/...)
http://www.dailyherald.com/business/business_story.asp?intid=3789066.....
Layoff Announcement More Bad News for Indiana Economy (Franklin, IN)
Breaking from WISHTV.COM
"Wednesday's layoff announcement at the ArvinMeritor plant in Franklin will aggravate Indiana's loss of manufacturing jobs.
The Michigan-based auto parts maker said Wednesday it is closing the Franklin plant over the next year and laying off more than 850 workers. Indiana has lost 106,000 manufacturing jobs since the state's manufacturing employment peaked in February 2000, according to the US Bureau of Labor statistics."
(snip)
"In a WISHTV.COM epoll Wednesday, 33 percent of those surveyed said they believe Indiana's economy will get better. Forty-eight percent said they thought it would get worse, and 12 percent expect it to stay the same."
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I guess we've been misreading the threads from the past 24 hours