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Payrolls Watch: July Challenger Job Layoffs Surge Most In Over 2 Years
With the world waiting for tomorrow's "most important data of the year" payrolls report as their signal to BTFD or follow Yellen Capital's recommendation and "sell," we thought it perhaps of note that this morning's Challenger jobs data was extremely weak. Layoffs in July surged 49% (the most since May 2012) to 46,887. This is the 2nd most layoffs in 11 months. The heaviest layoffs were in the Western region and also most concentrated in the auto industry.
Charts: Bloomberg
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Roaring Back into bankruptcy
Say it ain't so Bo....
There's nothing fixed with any economy anywhere on the whole planet, people.
All Sound and Light Shows
latoffs concentrated in the west and autos.... Tesla.... nah couldn't be.... the 0.1% need their fucked up toys
La la la la la la la .... I can't hear you, 'cos .gov told me that GDP is up 4% and therfore everything must be ok!
Obozocare working as planned.
I love lay offs, keeps me busy collecting from all the dead beats that were to dumb to save for a rainy day. I love to let them know how dumb they are too, makes me feel powerful.
The layoffs will continue until everyone is employed.
Bizarro World at it's finest.
"Robust," is the word I'm looking for.
Correct me if I'm wrong, but don't automakers usually lay off people around this time so the factories can retool for the new model year?
47,000 more peeps who now have time to do something enjoyable. You know, like curl up with a good book, spend time with the kids, plant a garden. Well, the garden might be a necessary .
the layoffs will continue at the international bank that i work at (and from what my american born friends tell me, most of the other international banks) until everyone from india is employed.
one of my mentors was at a big bank, realized that, reduced the % and (i got shit canned first), got shit canned. % went up.
thank you department of labor. i know. unemployment is down. love those numbers. can't wait to see how great the job market is tomorrow.
They can tell you anything.
"layoffs concentrated in the west and autos.... Tesla.... nah couldn't be.... the 0.1% need their fucked up toys"
I stopped at a light next to a Tesla earlier this week. Asian guy, sunglasses, clearly thought his shit smells like roses. He gunned it. I was driving a Jeep, thinking of all the wasted electrons.
https://www.youtube.com/watch?v=-wGdZCVsKaw
Exactly what happens when you give sub prime 50,000 cars to people that cant afford. They have so many cars built that will never sell no way the shit doesn't hit the fan
need something to lift a market that's 3% off its all-time highs - a round of bad news on fundamentals is just what the Dr. ordered
A war?
icanhasbailout,
There's NO market. It's all Jews printing money… Remember?
This is the last big one fellas. Enjoy it. They have done everything they can to get UST's out of everyone's cold dead hands. They thought they had everyone when they announced they may stem redemptions from bond funds, hoping everyone would sell. Now they went with the 4% gdp growth with a side of wages rising. That got them to 2.55%. They will probably go with 280k tomorrow to see if we can get above 2.65%. When it fails and we start the next drift down we break through 2.4% in earnest. From there it gets rough.
Your headline won't do for the big one. You get do better than that.
Well Escrapa why don't you go drop some more acid and stay away from the keyboard.
Don't do acid, sorry... but having some 1997 Pinot Noir, from California.
you should try some 2012 vintage California wines
Oh I love bonditos...
Just think of all the shorts and fails that will absolutley sky-rocket if there's another drop in rates.
Mmmmm Mmmmm Good.
Well, technically speaking "that's another bull market being shorted" actually. So absolutely...treasuries could rally dramatically here.
I definitely don't think 1% on the thirty year is out of the question. "But that was so last year." The year gold dropped 40% give or take.
Silver still has a long way to go to get back to 50 bucks an ounce...a level it hit in...1978.
"Those are some real expensive cars." And even more ridiculously expensive oil. Same is true for lumber, steel, aluminum, tin, brass, bagels, coffee, Big Macs, clothes, internet access, etc...etc...
Fonz, perhaps the play was for them to create a scenario in which they could unwind? people will only believe negative unemployment for so long... 280k market rallies and bonds go the other way. 180 market tanks and bonds tank... JMHO
I dunno, looks like a decent chance to push the rate above 2.65. But who the fuck knows - red or black? It's all a big damn casino. I'm just pissed at Yellen Capital right now - Janet told me Price-Equity ratios were looking favorable and look at what happened today - we're all the way back to where we were at the end of May! What kind of Financial Advisor sets you back a month and a half on your portfolio?
I don't know what to think, if things don't turn around tomorrow I may just have to drop Yellen Capital, get out of this market and go full-time into the 3 card monte game down on the street corner - that one guy seems to do pretty well...
Gator, I think you are spot on. I think the fed is going to eventually raise rates, if only to try to get velocity finally moving. That is why they are trying so hard to create the false narrative that thigs are awesome. I think they are very very boxed in. Raising rates could backfire and rates could implode downward when the actual raising of rates takes down equities. It won't take much to get grandma out of the market and back into a CD.
When is the market ever down on employment report Friday? Good number = waaaaay up, bad number = free crack pipes for everyone, it's party time!
Back to the border issue, meanwhile. Left carefully tracking Ingraham, Hewitt, Erickson, Drudge over opposition to border security bill:
http://mediaequalizer.com/brian-maloney/2014/07/progressives-boehner-sur...
Free crack damn government spending my tax money again huh? What about the hookers
I'm da Mayor. Suk ma dik.
Marion Barry
Good question????
Right, it's almost like goosing the pot. Spin up the bad news, get some sell offs, have your HFT buy at the lower price, buy a govt lobbyist to manipulate a favorable NFP number, and then get out for the first tee at 12:45pm. Peace of cake.
The only question: do they want a GOOD number or a BAD one? Becuase we might be about to learn just how big the "Yellen put" will be.
So does this "bad news" mean the DOW will soar +300 tomorrow?
+400 ... need to blow a little sunshine up their skirts.
+600 and extra fawning all over Tesla and that Musky dude.
Don't forget a screaming comeback for camera-on-a-stick! Don't miss a moment of the action on CNBC tomorrow.
nope. buy the fcking all time high. buy every dip. every dip means that people were twice as wrong, and the entire media will be pitching it tomorrow. any dip means +2x the next day. yellen has your back, and if not, they will bring bernacke back.
i'm not kidding. STOCKS ONLY GO UP!!! enjoy the ride. upside and profits growth is still not priced in.
OT: What could possibly go wrong here???
http://www.ajc.com/news/news/breaking-news/emory-healthcare-to-treat-ebo...
Bringing Ebola to America. WTF?
Hard Pivot!!!
Might have to do this to keep the dollah sucking air. Since Putin isn't buying our inflation, it's coming home to roost boys.
Hey, layoffs increase corporate profits!
Forward!
Lowers tax revenue also so that is good for savers since the Gov needs to then borrow more money. Pluses all the way around.
Fuck yes,
Now if only they stopped wasting cash on such crap as parts and inventory and R&D and all the other fucking useless shit and used it to lever dividends we would be getting somewhere
time for another printer cartridge
With the world waiting for . . tomorrow's trip to the bathroom.
Where's MDB when you need him? This is clearly a screaming buy opportunity. To the moon, Alice: To the Moon!
This whole thing is insane. Gotta wonder with all markets down today. Where is the money. Ill be happy to have a deposit of that phony fiat money put into my account. Debt free and loving it!
What's wrong with you American people, you're suppose to embrace proletariat views.
/sarc
That's for the Obama suckers not us free thinking country loving americans
Imagine if Faber is right lol
oh - i forgot - layoffs are GOOD for the economy. means people have more time to shop and surf and spend money they don't have on made in china junk they don't need. and since, there is no money to be made by corporations large or small, cost cutting by eliminating employees is another +. because if you can't make money besides bailouts - why bother to employee anybody
nasdaq e-mini 100 futures up .37 percent. gotta love it--the guys are working late, pumping on low volume after today's defeat….
this is clearly bullish news ... i.e no rate hike ... i.e btfd
Creating jobs in a mature market should be required to pass a certain "taste" test. It should be pointed out that while America is creating jobs it is costing a huge amount. I'm referring to the massive government deficit which I feel is the fuel driving our still rather weak growth. Is it sustainable, and just as important are these the right kind of jobs and will they last?
When a job that falls outside the description of government worker fails to make economic sense it becomes a form of working welfare with the taxpayer picking up the tab. We as a country and as a society have paid dearly for each unsustainable job created through government incentives and partnerships, because of the nature of many of these jobs we might even call them temporary. More on this subject in the article below.
http://brucewilds.blogspot.com/2014/04/creating-real-jobs-remains-proble...