The Recession Will End… When GM Starts Hiring Again

Says who: The 250,000 Americans impacted by fallout in the automotive industry (i.e. lost their jobs), whether they worked on site for the companies, at dealerships, or supplier companies.

Why it might be false: manufacturing is just 10 percent of the economy; not the 38.8 percent it once was, so what happens in manufacturing won’t move the needle nearly as much as it once might have. Adding jobs by any employer will surely offer a positive sign that the recession is ending, but it’s almost impossible for General Motors to offer enough jobs to crack that.

Why it might be true: If – and this is a big if – General Motors could hire back, and prompt its dealerships and suppliers to hire back – all the people it caused to lose their jobs, that would certainly do something for the economy: In a single swoop, it would lower the national unemployment rate from 9.4%. It would also be a sign that output is up, a key indicator of economic health…

Screwed: Another 38,000 at GM

A daily review of the employment fallout around the country and the world.

In yet another round of layoffs, General Motors will lay off 38,000 employees in Canada… Cessna is extending its summer furlough from two to four weeks and laying off another 2,300 workers… Ford talks about laying off 380 workers in its Louisville plant… The Baltimore Sun has laid off up to 60 employees yesterday…

Screwed: 21,000 at General Motors

A daily review of the employment fallout around the country and the world.

General Motors announces another massive restructuring plan that involves closing 13 plants and laying off another 21,000 employees… Riverside County announces possible 1,000 layoffs as part of a new 2009-2010 budget… Magna International Inc. will temporarily lay off about 725 employees as it cuts production at its St. Thomas plant next month…