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...There are a number of firms which are looking at 2009 and making prophylactic layoffs. They reasonably assume that their business prospects will get worse, but, in some cases not much worse. (See pictures of the Top 10 scared traders...
...number of layoffs at companies which are still in relatively good shape raises the question of why the people were hired in the first place. If these jobs had not been open, the employees might have sought work in more stable parts of the economy...
Indeed, the numbers suggest that the worst may well be yet to come. The overall unemployment rate, which lags what's going on in terms of economic production, tells us more about what has happened than where we're headed - and the forward-looking news is equally grim. On Feb. 5, the Labor Department reported that 626,000 people made first-time claims for state jobless benefits in the week ending Jan. 31, more than economists expected and the most since 1982. The total number of people collecting unemployment now stands at nearly 4.8 million, the most since at least...
...peak until the very end of the year. When it did, 10.8% of the workforce didn't have a job. For the unemployment rate to get up that high today, we'd still have nearly 5 million more jobs to lose. But, of course, 10.8% is simply a number plucked from history. Records do get broken...
...school will invite firms to campus the last full week of August before classes begin, advancing the recruiting timeline by about a month. Traditionally, the Law School’s recruiting cycle began later than at comparable institutions, which hurt students last October when law firms reduced the number of spots reserved for Harvard recruits in light the impending recession. Fly-out week—the time when students visit firms who have expressed interest in them—is now scheduled for the week of September 14, two weeks after the first day of classes. During that period...