Why are companies not required to report layoffs?

Question

I just found out there weren't. Should this not be required so we can keep up with the numbers?

Answer 1

You heard correctly unfortunately.

Even companies that are publicly traded on a trade exchange must notify their stock holders BUT that is doesn't even have to be done until their annual report; although, mostly it is reported within the quarterly.

You would think in our capitalist economic system, this would be required in order to maintain order but then again capitalism tends to favor corporations... so there you go... there in lies your answer.

Kinda makes you think twice about the economic #s we get about the economy, doesn't it?

Answer 2

Why aren't companies required to report HIRING?

Business already has too many government mandated requirements.

Our country is the best in the world, partly because we have a capitalist economy. Let the free markets work and there will be FEWER layoffs 'to report'.

Answer 3

Publicly traded companies are required to report layoffs to their share holders. It's not the governments business how many people they lay off.

Answer 4

Because this is a capitalist system. Companies are free to hire and fire as they want. The only thing they need to legally report is taxable income (wages) paid, and the voluntary statistical data on race/gender.

Answer 5

Republicans have done all that they can to prevent companies from any rules, Republicans call it "red tape". The numbers come from those that apply for work with job services. You are not part of the not working number til you apply.

Answer 6

For political reasons whoever is in power would prefer the people not know the extend of economic displacement.