The media is over-blowing the layoffs , as usual. Thus, the Christmas shopping season is very important. Then we should have some pretty good evidence about consumer confidence and the outlook for the economy next year.
Unique factors are at play here.
The breakfast cereal industry is cut throat right now. Profit margins have disappeared over the past two years. Kellogg has been in trouble for several quarters, and now is at the point where something has to be done. Amway's growth has come primarily from Asia during the 1990s, and now there is no growth, only shrinkage. The office systems industry is going great guns.