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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.
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).
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.
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
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.
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.
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.
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.
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.
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.
It is very much like doing that. I'm saying that people should recognize it for being that, and realize that it is decidedly NOT a balanced analysis of the job market. I suppose I haven't been articulate enough to get that across.
They won the house in a historic blue wave (historically weak, as your typical midterm election flip on a new president is much stronger).
I agree - the intent was a half-truth without full context. That's what I mean when I said "The original article is an analysis of job cuts only, not an analysis of the overall health of the job market."
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.
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.
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.
I just read that it takes people an average of 9.6 weeks to find another job and that number is steadily increasing. I'm assuming the times pan is how long it takes the average person to realize they're never going to find another job like they used to have and just take one out of desperation. Wages never went up. The whole thing was a sham to put even more money in the pockets of the wealthy.
Laws are rules for the court, but merely a bottom bar to hit for life. Think beyond laws in your actions always.
Why are you complaining? You only need to be out of work 2 weeks more!
Laws are rules for the court, but merely a bottom bar to hit for life. Think beyond laws in your actions always.
tag did not appear. Stupid html.
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.
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.
People who got a job: The economy is awesome! Trump is a genius!
People who lost a job: The economy sucks! Trump will fix this!
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.
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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.
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.
...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
Don't forget the little loophole in Obama are that let's them reset your deductible when you switch.
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.
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?
Yes lets send all manufacturing jobs to China!! Then when that's done we will import all of the Skilled Labor from India to take your Job!!! See what you say then. moron.
I'm an Electrician, and I'm better than most I've seen in the trade. I don't care if you import labor and export jobs. I will ALWAYS have a job, The low skilled labor from the south can't do what I do and still make money for my company no matter how cheap they will work for. And I doubt robots will be able to do my job before I'm dead. So on that note, have fun shooting yourself in the foot. I however have job security.
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.
Which was only posted here to try to smear #presidenttweety as one of our #trumpisliterallyhitler! users points out at every opportunity before rational thought can get a word in.
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.
Because that doesn't sell ads, as most people with above luke warm IQ use ad/js blockers.