Planned Layoffs Rise

Layoff announcements rose 44,324 in September, up from August's very low 32,188. Education is at the top of September's layoff list, at 8,671 and reflecting the bankruptcy of ITT Technical Institute which had 130 campuses spread across the country. Retail is second on September's list at 7,296 followed by government at 7,156. Today's results are a negative indication for tomorrow's employment report though trends are still favorable, with total layoffs in the third quarter coming in at 121,858, down from 132,834 and 180,920 in the prior two quarters.