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The US Just Had the Most Q1 Layoffs in a Decade (axios.com)
The U.S. saw its highest level of layoffs in a first quarter since 2009, data from staffing firm Challenger, Gray & Christmas released this week showed. From a report: Employers cut 190,410 jobs in the first 3 months of the year -- 10.3% higher than the number of layoffs announced in the fourth quarter of 2018 and 35.6% higher than job cuts announced in the same quarter of 2018. It's the highest number of job cuts in a quarter since 2015. The financial industry saw the third highest number of layoffs and the year-to-date total was 239% higher than it was in 2018.
This is strange. Didn't the President of the United States tell us he was creating more jobs than any President ever? The best jobs, even?
that our economy is 'setting records on virtually every front' and 'probably the best our country has ever done'!
The President behave erratically
The Markets interpret this as a cause for uncertainty
The Employers see a Risk and mitigate it by reducing expenses via headcount
This isn't rocket science and that fact is demonstrated by how earnestly every single prior President in the past several decades has worked to instill market confidence
The economy goes in cycles. We're overdue for a contraction.
Hahahahahahaha. I enjoyed reading that. I guess whining is allowed in that super-secret third chamber of congress.
fuck off ivan you are transparent
They won the house? Not the senate. And whatâ(TM)s the third Bisha?
This is strange. Didn't the President of the United States tell us he was creating more jobs than any President ever?
Lets see, you can choose to think about only number of jobs lost (although how many are truly lost, vs. just people being laid off...), while ignoring jobs created...
Of course if you do that, you don't actually know the total, do you?
Yep, more Fake News. What a surprise. *rolls eyes*.
"There is more worth loving than we have strength to love." - Brian Jay Stanley
196,000 jobs were added in March. During the same quarter 186,000 jobs on average were added per month. Certain industries are getting ready for a recession (including the financial industry).
that's just the 'official' announced ones.. i.e. ones reported to various state agencies, etc.
that doesn't include the others..
small scale staffing changes or shifts to outsourcing that aren't reported number far more job losses than the 'official' tallies.
So how many jobs were created, or how many people were hired? Surely you must know if you are insinuating statements about over-all unemployment rates.
Why don't they just Learn To Code!
[sarcasm]Right, democrats hate shopping at retail stores.[/sarcasm]
Most of the job losses and projected losses are in retail. Unemployment is at an all time low, so people are working. Just not in retail and other low pay service jobs.
https://www.google.com/search?q=unemployment+rate+usa
196,000 jobs were added last month, a rebound from the February report. Economic analysts surveyed by FactSet had expected a gain of about 170,000 jobs in March. It was the 102nd straight month of job gains. https://www.nytimes.com/2019/0...
C'mon, he's talking about the cast of Fox News as the third chamber. Whining there is considered a job requirement.
Suffering Jesus! Homophobic much?
It seems to really depend on how the data is presented. Is it based on how many are collecting unemployment checks? Or hiring/firing data from Fortune 500 companies? Or number of business licenses issued (it is really easy to start a business, doesn't mean it will earn anything). Or one person working three jobs because each one is part time with meager wages? Or companies posting job openings with requirements of years of experience in various technologies that are new?
Then it depends on who is reporting. ***every*** President have always said their administration has had the lowest unemployment level ever. Kind of like those saying this is the best webpage//forum ever or we will have man on Mars 20 years from now. After a few decades it gets old.
mfwright@batnet.com
As a former tech worker in finance, what I've seen is that the industry is continually consolidating. Not through mergers, but through automation. Eventually the goal is to automate everything except a few 100 jobs to maintain the machines. Anyone with any sense will leave that industry ASAP before they become an unemployed dinosaur.
So how many jobs were created, or how many people were hired? Surely you must know if you are insinuating statements about over-all unemployment rates.
Scrolling two stories down: https://games.slashdot.org/sto... Apparently the video game industry is laying people off in large numbers.
From 2008-2016 that slashdot had?
Oh wait... they were all good news posts and they suddenly stopped in 2017 and suddenly no good news could be found about the economy or jobs figures.
Interesting that.
Yes, there were more losses in Retail (and it indicated less consumer spending, which is likely to push the US into a Recession), but there were also significant losses in Auto, Energy and Finance
All told, the auto industry reported plans in March to eliminate 8,338 jobs, bringing the first-quarter total to 15,887 jobs lost. Energy companies reported job cuts of 8,149 in March and total cuts of 10,548 for the first quarter.
Financial firms reported the third-largest total of planned March job cuts with 4,884. The financial industry announced 9,570 job cuts for the quarter, an increase of 236.6% year over year.
Retailers announced 4,860 job cuts in March, but the industry easily leads in the total number of jobs lost in the first quarter with 46,601 losses. That’s 18.5% fewer losses than in the first quarter of 2018. Challenger also reported that so far in 2019 retailers have revealed plans to close 4,048 stores.
For the year to date, Massachusetts (30,160), California (29,501) and New York (27,953) have lost the most jobs.
The top three reasons given for first-quarter job cuts are restructuring (49,868 jobs cut), bankruptcy (40,218) and the business is closing (27,380).
https://247wallst.com/jobs/2019/04/04/march-job-cuts-send-q1-total-to-highest-in-10-years/
This is completely contrarian to marketwatch report
Job numbers are so hard to follow because there's different ways of counting them, reporting them etc.
I've always said English was my second language. Had Romeo and Juliet been written in C, I might have understood it.
He keeps saying he's responsible, thanks Obama.
If you whine about immigrants, brown people, that is.
This how we know this is fake. Stocks go up when you lay people off.
You have to compare statistics over the same period.
The article is about the first quarter 2019: that is, January through March. The job statistics for the first quarter are poor, mainly due to an absolutely terrible jobs report in February: https://www.bls.gov/web/empsit... First quarter 2019 is significantly down in employment compared to the 2018 average.
The guy saying "fake news *rolls eyes*", however did the old switcheroo: he is just talking about March. March did bounce back... although it would be hard to not bounce back after such a low report for February, and it's still not even as high even as the average for 2018.
The U.S. has averaged ADDING 180K jobs each month across 2019. In March along, +196K jobs were added. This isn't to say there will be transitions as some companies cut and others add, but TFS makes it sound like the sky is falling when it isn't. That isn't to say were aren't headed into a slowdown in the next ~18 months, but we sure as Hell aren't there yet. https://www.ibj.com/articles/7... https://www.nytimes.com/2019/0...
I hate lying faggots, what can I say? He claimed Kavanaugh's big impropriety was drinking beer. Not lying. It's just so pathetic what this Republican party has reduced itself to - lying treasonous incel faggots exclusively.
Go get cancer from a windmill you goof.
This is how democrats do. First they form the KKK to kill black adults, then they form Planned Parenthood to kill black babies. Now they're turning on homosexuals. Democrats will demonize any marginalized group to prop themselves up, just like the Nazis and Communists did. And they're making lists. AOC has hers and threatens people with it.
196,000 created in March.
You got tricked. Again.
The article under discussion is about first quarter 2019. Not about March.
First quarter 2019 was, in fact, down in job creation.
Even March was down in job creation compared to the average for 2018.
We'll see whether second quarter 2019 is better, or not.
https://www.cnbc.com/2019/04/05/nonfarm-payrolls-march-2019.html
And yet 190K were added to the payrolls just in March.
Let's not get confused about what "numbers" actually "mean". Yes, 190K layoffs from companies that were closing plants or stores, whereas the people that held those jobs went on to fill positions that were vacant.
What's the net? In the first quarter, 0.5% of the population went from unemployed or not looking for work to gainfully employed.
Oh, and this is a news site for tech nerds. Leave the political claptrap for your masters at huffpo. People on this site actually can do math.
John, behave.
Will you Republicans still vote for him when the economy is in the crapper like it was in late 2007?
Meanwhile Russia will celebrate because they'll have succeeded in disorganzing the U.S. to the point where we're completely paralyzed. Again.
Nice job, Republicans.
In what nerdiverse does this matter?
Why can't there be at least one sanctuary left for people with above room temperature IQ?
...of doing each others laundry is not fucking sustainable, duh.
Republican traitors should be the first wave of foot soldiers when Russia invades. Let them serve as meat shields.
Isn't that like doing a budget while only looking at the money spent and not the money earned?
Usually, people subtract the losses from the gains and look at the change. So it is *really odd* to mention only half the story... it's almost like they have some reason for that. It's like they want us to believe something that's not true by telling us only certain facts and not others.
I wonder why...
The video game industry ALWAYS lays people off in large numbers.
Thanks for developing this billion-dollar-budget AAAA title! We've sold 8 million copies and people are buying $5 skins like crazy! We're firing 90% of you and keeping 10% on for patches and new skins.
And that's to be expected. When a crew wraps on a film they don't keep getting paid for not working on that film.
What's less normal is when a mega publisher shuts down an entire studio after a game under performs, or after some nontroversy. But this, too, is understandable. You close the studio so you have less baggage to deal with. You they start up a new studio, give it the IP the old studio had, and hire the people from the old studio who were actually pulling their weight.
This all boils down to the simple fact that you can't look at the number of firings, layoff, or hirings. You need to look at the unemployment number as a whole (either nationally or within an industry). Basically, this story is meaningless bullshit.
wish we killed you as a baby, retard
They won the house in a historic blue wave (historically weak, as your typical midterm election flip on a new president is much stronger).
Why on earth would that warrant a downgrade of the thread?
You may enjoy spreading lies, must of us reasonable people do not.
A literal half-truth without full context, is a lie.
"There is more worth loving than we have strength to love." - Brian Jay Stanley
Actually employment is at the highest percentage in 50 years. Anyone who wants a job, has a job.
I guess msmash is one of those glass half empty kind of gals. Hey msmash, learn to code!
Why don't they just Learn To Weld!
FTFY.
That's certainly true. It's been over a decade since the last recession, so one is likely on the way in the next 6 to 12 months. Trump's tariffs, trade wars and general instability certainly haven't helped, but a recession probably would have happened anyway. The real problem though is that the tools government normally uses to help ease a recession (cutting taxes and lowering interest rates) have already been used by Trump early in his term in a vain attempt to boost his popularity. Taxes can't be cut any further and he stopped the fed from raising rates during the boom so there's no room to lower them during the bust. This is going to be another bad recession with another long, slow recovery.
Support Right To Repair Legislation.
I though the tax cuts were going to create jobs? What ever happened to that. Oh right, it was just another bald faced lie.
The Trump Recession will probably start before the 2020 election...
I've abandoned my search for truth; now I'm just looking for some useful delusions.
Well, everyone knew the Trump recession would eventually come. You can't treat America with contempt and carelessness and expect the Obama recovery to continue indefinitely. On the bright side, Putin is getting what he paid for, so Trump's record of defaulting on every deal is finally broken.
People keep lambast me because I say the recession is coming.
Laws are rules for the court, but merely a bottom bar to hit for life. Think beyond laws in your actions always.
Granted this story is /. click baity-ish. But there is some value in reading between the lines. If I am involved in both business and personal finance (which I am) I want to know where things are headed in the future,. So while the typical folks that want to make every story political bash it out in -1 Score land, I would say that there are more and more dots pointing to economic slowdown later this year. That's hardly surprising news given that we've had a long economic expansion and many other pundits and experts have opined the same thing. But if I'm looking to re-balance a portfolio or make some big purchasing decisions I do want to take this into account. February jobs report was an outlier it was said, this report is an outlier its being said. But a few more of these makes a trend.
Trolling 101:
1) Make a baseless statement that will offend at least 50% of readers [Democrats]
2) Include an incorrect fact [three chambers]
3) Include a mis-spelling that makes the statement nonsensical [whining]
Transparent, indeed! But well-done from a brevity stand-point.
The breadlines are gonna be funny.
for example -- lets see 1.3? 1.3 birth, 1 death, 1.3 hired, 1 fired. I wish those losing there jobs had something to do with major government re-organization and streamlining. the business sector can absorb the government layoffs and reductions in force, yet the unfunded liabilities of our federal pensions is astronomical. we need to auto-correct and get unfunded liabilities back to zero. amen. peace.
they're gearing up for a recession. Corporations are squirreling away money for buy backs to bump the stock price so the CEO doesn't take a hit to his income.
We should ban stock buy backs immediately. Pre-Reagan they were an illegal manipulation of the market. The damage they've done to the economy and to working class jobs can't be understated. The fact that Reagan got them past the American people like he did is a testament to how much he could get away with because folks loved him so damn much. We need to put a stop to that kind of politicking, where warm feelings replace sound policy.
Hi! I make Firefox Plug-ins. Check 'em out @ https://addons.mozilla.org/en-US/firefox/addon/youtube-mp3-podcaster/
Southern Democrats switched sides in droves from 1964 to 1980.
This is strange. Didn't the President of the United States tell us he was creating more jobs than any President ever? The best jobs, even?
#PresidentTweety's ONLY concern is surviving past the election of 2020. Trump has NO long-term plans and he would not care AT ALL if the country collapsed into total bankruptcy the day after the election.
I'm not optimistic about America's future. The Democratic Party primary process is quite similar to the GOP's, which in 2016 picked the least qualified and utterly worst candidate out of a large number of them. Now that Trump has proven "YUGE lies work", what's to stop the Democrats from nominating worse-than-Trump under the guise of anti-Trump?
The only good aspect I can see is that Trump is a doddering old fool, so he can't live long enough for Trumpism to devolve all the way into Stalinism. Notwithstanding, it wouldn't surprise me at all if Trump locked the door on "executive time" and died of a stroke before anyone worked up the courage to check on him. That's how Stalin died in 1953. Any day now for Trump?
Just venting, but I've already taken cover.
Freedom = (Meaningful - Coerced) Choice != (Speech | Beer^2), and sad sock puppets' bad mods avail them naught.
So 190k jobs were lost over 3 months but you guys are ignoring the 190k jobs added every month... are you guys stupid?
> Anyone with any sense will leave that industry ASAP before they become an unemployed dinosaur.
I am not sure how 'leaving the industry' will make them less 'unemployed'.
Absolute figures are fluff for stupid internet trolls to bandy about.
The percentage unemployed is the only number that matters.
And companies are reacting accordingly. If they have time to read and reply on slashdot, they have time to look for a job...
Meanwhile, the U.S. is at the lowest unemployment claims since 1969, which is even better considering there are a lot more people in the workforce now.
At 3.8%, a 50-year low, we're currently beyond what most economists would consider "full employment", with more job openings than people looking for work. All this reported news, combined with the 196K new jobs in March, means is that companies are restructuring and jobs are moving from less efficient uses of people's time to more efficient and valuable uses, which is exactly what we want in order to continue to build wealth in the country.
I'm sure the /. editors will be posting a story about all that anytime now....
The party of stupid and the party of evil get together and do something both stupid and evil, then call it bipartisan.
Nah, that's the one only super-special Democrats know about.
Isn't whining a requirement at any Operation Mockingbird News Network?. After all, you have been mind controlled by at least one. (hint: they are all owned by the cia)
Who? Name some. I do sit in front of a computer all day and know for a fact it's a real job, I don't see any indicators that domestic production is coming back. I see plenty that are leaving again though. You need to work on your lies better, you company can get better liars for less money in China. You might get outsourced.
I also like how you started off using those poor blue collar workers as a sympathetic tool in your argument which really turned out to be an anti-China racist screed. Again, like above, a Chank is gonna take your job of being a better liar and racist if you don't step up to the plate and stop being the lazy American you want us to think you are.
...when it could be highlighting that US Jobless claims have hit a low not seen since 1969
https://www.cnbc.com/2019/04/0...
I guess it depends which side of the political fence you are, which "truth" you believe is representative?
-Styopa
The video game industry ALWAYS lays people off in large numbers.
Which is yet another argument FOR single-payer healthcare. Turns out that each year roughly 28% of the workforce has to switch to a new health insurance plan and endure all the anxiety and hassle of figuring out new doctors networks, new coverage rules, new deductibles, new copays, etc. It would be so much nicer to switch just once and never have to go through all that shit again.
When were USA politicians ever not corrupt etc? Itâ(TM)s some mythical age that never existed you speak of.
I guess you didn't get the memo, the Russian Collusion hoax has been debunked.
He is "dumb" yet he defeated all of your heroes (HIllary et al)...what does this say about them?
Er, does this take into account the fact that we had a government shutdown? Do these numbers count furloughed government employees?. In any event, job creation numbers just bounced back for March, so this is pretty much a non-story.
Meanwhile wages are still flat. Inflation over 3% and our deficit has ballooned to a historic level of a trillion dollars and our national debt has risen to 22 trillion dollars.
We canâ(TM)t grow our way out of debt you can be damn sure the rich wonâ(TM)t let themselves tax our way out of debt. I wonder what our tax rates will end up being when the national debt bubble pops. Yâ(TM)all screaming about we canâ(TM)t afford healthcare at 1.5% tax increase on employee and employer what will you say when we pay more in taxes than Europeans and have no guaranteed healthcare, no guaranteed retirement (401k is a piggy bank for Wall Street) and your kids are too broke to help. Your parents and grand parents will be dead and theyâ(TM)re the ones to blame.
Just shut the fuck up dude it's so fucking boring
So how is it these stories manage to get posted securely OUT of context?
Supposedly, the USA is at the lowest jobless rate in a very long time.
With rises in AI and automation tech, are we really adding more jobs than are being cut?
How about some clarity?
Self-importance and self-indulgence is the root of ALL evil.
By 2.86 million more votes!!!
Oh, wait, that was the other one.....
AND the highest labor NON-PARTICIPATION RATE (remember you people shouted Obama's number? Eat it) and the historical trend is DOWN since dRumpf took office Jan 2017
Because the popular vote has always mattered in the USA. Get a life.
For the year to date, Massachusetts (30,160), California (29,501) and New York (27,953) have lost the most jobs.
If I'm reading this right, you're blaming liberals for the job losses?
Welding is actually one of the first being automated away. Look at car factories and the such. Need to learn a better trade. Heavy Equipment Operator maybe? They make a lot of money, but not the healthiest job. However neither is being a desk jockey.
Well seeing as they're the only ones not afraid of guns. If they sent you guys in first your only offense would be defense(see meat shield). If Russia does invade, lets hope that never happens. You can bet your sweet ass the armed republican population will be at arms on the front line. That's what happens when you love your country. You will fight to the death for it.