Lot's of "little signs" are sending what could be a big message. Job Openings have been at unprecedented levels for well over a year. If that significantly decreases while Jobless Claims increase, we are very likely looking at a rough ride.
With interest rates soaring, stocks tanking and fears of a recession mounting, employers are axing jobs or dialing back their once-breakneck hiring plans. Amazon.com Inc. and Walmart Inc., America’s two biggest private employers, have said they’re thinning out their hourly workforces through attrition. Jobless claims, while still low, have risen slightly, based on a four-week moving average that smooths out weekly volatility.
It does look like a hard landing and recession. Personally I am very bearish on the situation in the USA. S&P to 1,450
Citing an "unprecedented rise in global energy prices," Century Aluminum in Kentucky announced they will be laying off 628 Hawesville Smelter employees starting August 5. In fact, mass layoffs are happening nationwide as fears of an economic downturn continue to escalate.
Data from Trueup showed recently that layoffs in the technology industry are amassing every month since January. In fact, layoffs at 95 technology companies have affected nearly 48,000 people.
And only a few weeks ago, Tesla and CEO Elon Musk announced a cut back of 10 percent of their workforce, with layoffs beginning not long after.
I never pondered this before , but IF they are tallied in some way, how are layoffs accounted for in the unemployment stats?
I assume at some point they are eligible for benefits.
Unemployment is simply a count of who has filed for benefits.