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
July Layoffs 200 and over (All July Layoffs – click here)
Biomet Inc – Confirms up to 200
4 Connecticut Nursing Homes – 575
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
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
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
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
Piedmont Healthcare – 464 Positions Eliminated
Sacramento County CA – Approves 300 Layoffs
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
