Jan’10 Layoffs a Bite of Reality

Charts Sourced from ZERO HEDGE

The American economy has been ill for years and thanks to the Feds easy money policies we enjoyed the illusion of prosperity. At the end of 2007, it all came crashing down.

What the District Criminals Washington do? Bailed out banks that made losing bets, they didn’t want to do it; it was only for our benefit. They also bought almost 2trillion in toxic assets at par. They hated to do it but they had to, for our sake. This is really just one big theft facilitated by our loving big brother.

The reality is government cannot create jobs in the private sector. The can grow an already bloated public payroll which they are happy to do in all economic times, but bring growth to the private sector? No can do.

We are assured that government is the answer by politicians, media idiots, and of course by the big Wall Street players. It is all a lie, a big fat smelly lie and unfortunately we are going to see what the truth is and it will not be pleasant.

The BLS (Bureau of Lying Statistics) reported mass layoffs in January. The number of MLE (mass layoff events) rose to 2,860, form 2310 in January of last year. The low water mark in 2009 was September with only 1,371 MLEs. An MLE is defined of 50 or more people being laid off.
This is a Jan. Y-o-Y 24% increase. Jan is also a 109% increase over the September ’09low.

Green shoots?
See the charts below to see the MLE data and also first time UI claims.

ZERO HEDGE is must read daily