Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
And EVEN Chrysler is on track to break even this year.
(Reuters) - Chrysler Group LLC is on track to break even on an operating basis in 2010 and is ahead of its turnaround targets, Chief Executive Sergio Marchionne said on Tuesday.
Employers announced plans to cut 67,611 jobs in March, according to outplacement firm Challenger, Gray & Christmas Inc. That's up 61% from February, when 42,090 jobs were lost, the lowest level in nearly four years.
So there's a 61% increase in job losses when March is compared to February, and the job losses in February were at the lowest level of monthly job losses in almost 4 years. This is not exactly "the sky is falling" material.
The sky is not falling fast it is more like the sky is a giant glacier slowly crushing us to death.
A side question concerning the auto companies doing better:
Will the taxpayers see anything tangible when GM repays the govt back? Is the money slotted to go into a specific program or just added to the general fund?
Guess the same could be asked about money raised from selling shares of Citigroup.
Bah..they play with numbers in the sense that they hightlight the good parts and play down the bad.
Ultimately though, it's when unemployment starts falling from 9.7% ..regardless of the number of jobs gained/lost we're holding at 9.7% unemployment. That tells me that for what we gain we're still losing and not getting a net gain.
Jobs are lost EVERY MONTH - even when times are good. It's called "thrashing". Some jobs are lost, some jobs are created. That's why the number of new unemployment claims almost never drops below 300,000/month. What differentiates a good economy from a bad one is when the numnber of new jobs created OUTWEIGH the number of jobs being lost.
Ken
Hmm, maybe at double digit unemployment we just don't have many more jobs left to be lost each month.
Sounds like a good recovery in store for the auto industry:
The automotive sector was handed major setbacks during the recession, but Mike Jackson, CEO of AutoNation, said the industry is in store for a “Fat V” recovery.
Make no mistake, it's been VERY PAINFUL for the auto industry and sales are still pretty poor - but the trend now is CLEARLY improving and it appears the rebound is going to be pretty strong.
Did you even read the article? All of the major automakers except for Chrysler posted year over year sales gains for the month of March. Ford, GM and Toyota all saw sales increases exceeding 30% from last year. Nissan said that its sales could be up 35% from last year. That's huge. Consumers are starting to spend on big ticket items like new cars again.
Ultimately though, it's when unemployment starts falling from 9.7% ..regardless of the number of jobs gained/lost we're holding at 9.7% unemployment. That tells me that for what we gain we're still losing and not getting a net gain.
Well, you DO know don't you that that 9.7% had PEAKED at 10.2% (back in October) - so we've ALREADY seen it drop - and it will drop MORE.
The United States Unemployment Rate (http://www.miseryindex.us/urbymonth.asp - broken link)
Ken
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
