Even If the Debt Ceiling Is Passed…

Even if the debt ceiling legislation is passed, happy days are not here again. The recession was never over: we only need to factor in inflation and stimulus money to see actual private sector economic activity. The $130 trillion debt is not addressed by the proposed debt ceiling legislation but it is increased another $2.4 trillion. Our national credit rating is about to be downgraded by more agencies resulting in economic turmoil that will have a more devastating impact than default would have done.

The following report on the manufacturing sector is 11 times worse than expected. Although Washington will not admit or address our economic status, the people understand the reality of living within a budget.

Manufacturing sector slows in July: ISM

The pace of growth in the manufacturing sector slowed more than expected in July, according to an industry report released on Monday.

The Institute for Supply Management (ISM) said its index of national factory activity fell to 50.9 from 55.3 the month before. The reading was shy of expectations of 54.9, according to a Reuters poll of economists.

A reading below 50 indicates contraction in the manufacturing sector, while a number above 50 means expansion.

New orders fell to 49.2 from 51.6. Prices paid was down at 59 from 68. The employment index fell to 53.5 from 59.9.

The following list of layoffs is not complete: I only selected the entries of 200 and over layoffs that were in the United States from Daily Job Cuts. The choice for Americans is clear: it is time to live within your means and prepare for the future.

David DeGerolamo

August Layouts

HSBC sheds 30,000 jobs

July Layoffs 200 and over (All July Layoffs – click here)

Biomet Inc – Confirms up to 200

Wayne State University – 200

4 Connecticut Nursing Homes – 575

Merck & Co – 13,000

Boston Scientific – up to 1,400

Ohio Department of Rehabilitation and Correction – 400

Connecticut – Expected To Release Layoff List This Afternoon | 2,000+ Layoffs Expected

Update: NASA – Estimate 2,000 Layoffs Friday

Memorial University Medical Center – up to 230

Duval County School in Jacksonville FL – 250+ Layoffs Finalized

BMO Harris Bank Parent – 100 in Milwaukee, 475 Total

CA Technologies – 500 Layoffs Planned

Update: Baystate Health – Over 300, Layoffs/Vacant Positions

St Jude Medical – 450 by end of 2012

State Street – 850 IT Staff

Navistar – 200 Contractors

Report: Borders Group – All Stores Closing – 10,700 Jobs Lost

Whirlpool Plant in Amana – 350

MultiCare Health System – up to 350

Cisco – up to 5,000 Layoffs Possible

Navy – Plans on 3,000 Layoffs

The University of Texas Southwestern Medical Center in Dallas – 350

June Layoffs 200 and over (All July Layoffs – click here)

The Monroe Public School MI – 361 Layoff Notices

Lockheed Martin Corp – 1,500 Job Cuts in Aeronautics

Update: Milwaukee Public Schools – 519 Layoff Notices

Goldman Sachs – 230 in New York City

Mayor of Chicago – 625 Layoffs or Work Rule Changes

Connecticut CT Gov Plan – 5,446 Layoffs and Cut Aid to Cities

Campbells Soup Company – 770 Layoffs

Update: Harrisburg School PA – 200+ Layoffs, and Closing 4 Schools

Update: Pfizer in East Tenn. – 117

Update: The City of Houston Texas – Confirms 747 Layoffs

The St. Paul Minnesota Schools – 300+

Chicago Public Schools – 1,000 Pink Slips Coming

Gannett Co – 700 Newspaper Workers

RIM Research in Motion – 200 reported

Cagle’s Inc Pine Mountain Valley, Ga – 300

Update: Salem-Keizer school district Oregon – 248

Sears – Kmart Appliances Staff – 700

Detroit Public Schools – All 10,000 Teachers getting Layoff Notices, Some will be Recalled

American Red Cross – 400

J&J Johnson & Johnson – 1,000 Job Cuts, and Possibly Closing 2 Factories

Lockheed Martin’s Space Systems Company – 1,200

Boeing in Wichita Kansas – 225

Update: Gary Indiana School Teachers – 400+ Layoff Notices

United Airlines and Continental Airlines Merger – 1,500 fewer Jobs in Downtown Houston Corp. Offices

Teleperformance in PA – 306

Piedmont Healthcare – 464 Positions Eliminated

Sacramento County CA – Approves 300 Layoffs

Update: Harpo Studios – 250

Walt Disney Studios – up to 250 primarily in Distribution

Boeing Co Space Exploration Division – 510

The Sikorsky Aircraft Corp – 386

General Dynamics 4C Systems – 500

Update: Flextronics in Mass. – 254

Allentown PA School District – 265 Layoff Notices

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