U.S. planned layoffs hit highest monthly rate in 7 years
ADP Employer Services said in a report that the U.S. private sector eliminated 522,000 jobs in January. Other data show that planned layoffs hit their highest monthly level in seven years, pointing to the possibility of a prolonged period of rising unemployment. The only thing close to a bright spot in the data comes from the service sector, which contracted less severely in January compared with December. The New York Times/Reuters (04 Feb.)
Decline accelerates in U.S. demand for temporary staff: A sharp drop in demand for temporary workers in the U.S. during the fourth quarter affected staffing companies' results worse than Wall Street analysts projected. Several companies reported plummeting revenue, and "it is likely no sector was spared," BMO Capital Markets analyst Jeff Silber said. The New York Times/Reuters (04 Feb.)
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