Exact(1)
Ian Lyngen, bond-market strategist at CRT Capital in Stamford, Conn., estimates this temporary layoff effect added 0.3 percentage points to the unemployment rate.
Similar(59)
The year-end layoffs take effect at the end of business on Tuesday, said Richard B. Turan, the corporation's president.
The Democratic leadership is drafting a budget proposal that is expected before Jan . 17 when most of the layoffs take effect.
That day, the mayor ordered that 2,000 of 4,500 threatened layoffs take effect immediately, a move that will inevitably hurt city services, from education to garbage pickups.
As those announced layoffs take effect, the unemployment rate will start rising -- perhaps as soon as Friday, when the government releases the next jobs report.
But the administration had to begin the process of reducing the work force now, Mr. McCormac said, because the labor contract with state employees requires a 45-day notice before any layoffs take effect.
In an interview, Mr. Grannis said, "We were asked to provide an analysis of how these layoffs would effect our agency's operations, which we did, and somehow that got out".
That would suggest Spot Runner currently employs less than 180 people, and after the layoffs take effect will employ less than the 120 mentioned above.
Fig. 2 Probability of permanent layoff and the effect of selection.
It was unclear yesterday when the layoffs would take effect.
Mr. Cuomo's office said the first layoffs would take effect in three weeks.
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