Wednesday, July 1, 2009
This chart is another of those undeniable green shoots. The chart tracks the number of corporate layoff announcements, and they have plunged from a high of 242K in January to 74K last month. That's a drop of almost 70%! Indeed, they are essentially back to levels that prevailed during the the growth years of 2004-2007. Corporate America saw the problem in late 2008, took action, and has now largely completed its downsizing. Businesses are now leaner and meaner and ready to grow. This is a tremendous development that suggests the economy is now in recovery mode.
Posted by Scott Grannis at 8:03 AM