Layoffs Surge 17.6% YoY, Shale State Joblessness Soars, Initial Jobless Claims Rise

Tyler Durden's picture

It all makes perfect sense. Challenger announced this morning that layoffs in January soard 17.6% year-over-year with planned job cuts at the highest level in almost 2 years... Jobless claims in Shale states continues to trend higher as oil prices collapse... but initial jobless claims beat expectations - hovering near cycle lows - though did rise modestly WoW.


Jobless Claims in Shale States continues to trend higher... (this data is lagged a week)


Job Cuts announced soars over 17% YoY...


The number of planned layoffs by U.S. employers rose to a nearly two-year high in January as the energy industry slashed jobs in the face of falling oil prices, according to a report by Challenger, Gray & Christmas. Employers planned to let go 53,041 jobs in January, up 63 percent from the 32,640 layoffs announced the previous month. Total job reductions last month were the highest since February 2013.


And Jobless claims rose modestly but is hovering near multi-year cycle lows...


Charts: Bloomberg

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mayhem_korner's picture



Deferred recovery.  Just keeping powder dry.  8D

TruthInSunshine's picture

Extremely bullish.

Savings from reduced headcount can be collateralized at 1,000x leverage & used to buy back shares.

GetZeeGold's picture



A couple 29.5 hr/wk the healthcare problem.

lordylord's picture

I bet the unemployment rate still drops.  As an Obamabot would say, we're in a recovery and Obama saved the economy.  Forward! 

847328_3527's picture
Southern California Edison IT workers 'beyond furious' over H-1B replacements


Information technology workers at Southern California Edison (SCE) are being laid off and replaced by workers from India. Some employees are training their H-1B visa holding replacements, and many have already lost their jobs.


When Barry promised to 'create' jobs he didn't specify jobs for Merikans.

Dragon HAwk's picture

I was asked to train my replacement one time.. I handed the guy the keys, said, Here this turns it on.. and walked  out. right in front of the Boss.

A Nanny Moose's picture

What could he possibly do? Fire you?

Occams_Chainsaw's picture

They try to hold you hostage to train your replacement by offering a severence and if you walk off the job you quit so you don't get UE.  Given the nature of the job market though you can just go broke now or in 6 months.  Same end point but different timing.

TeethVillage88s's picture

- Borders Still Open & Free (Slave) Trade in force

- Past Bush Comments Shock Conservatives:
- 'Not possible' to 'completely control border'...
- 'Repopulate' Detroit with immigrants...
- 'Ridiculous' not to give 'accelerated citizenship' to young illegals...
- FLASHBACK: 1 in 5 jobs now held by foreign workers...
- American tech employees forced to train immigrants hired to replace them...

replaceme's picture

That's just SOP - I worked at a Fortune 500 that outsourced much of its IT in the early 2000s.. You met your replacement, showed him the ropes, and then you left.  That was just the deal - you didn't like it, you left early.  Some folks did, most wanted the money and time to look for a new job.

To their credit, none of the replacements were told they were taking those jobs - they all thought the company was doing so well that they needed the additional workers. Most were pretty shocked that their new company would do such a thing.  Welcome to the bigs, guys.

Handful of Dust's picture

"Rebalancing the work force" is what they call it. Moar money at the top and lower pay for the immigrants many of whom are just happy to be out of the chaos back home and will work for peanuts.


Luckily, Barry has created alot of Fast Food counter jobs for those merikans laid off. Those with college degrees migth even start higher, like at the drive-thru window at McDs.

A Nanny Moose's picture

The push to raise min wage works in direct opposition to all those "job" gains.

Occams_Chainsaw's picture

This has been going on for years.  I've trained several replacments (who just got out of school, hopped a boat to here and did not have much up on a wet brick).  Being they were too green to know anything I trained them wrong then they went back to India and fucked everything up.  Guess who they came running to to take back the work?

buzzsaw99's picture

damn right it's bullish. CEO BONUS TIME!

LawsofPhysics's picture

Yes, for honest money and an honest day's work.  Remember necessity is the mother of invention, so bullish for innovation as well.

Cognitive Dissonance's picture

I get your point.

Unfortunately in a corrupt system honesty not only doesn't pay, but it can be detrimental to your survival. And this is exactly what the sociopaths wish to see. Corruption at the top can only survive for long if the disease spreads to the bottom.

LawsofPhysics's picture

Be optimistic.  Right now, I see far more people on the outside of that corrupt system than on the inside.  I don't worry about sociopaths, there really isn't much difference between them and spoiled children.

Cognitive Dissonance's picture

"Right now, I see far more people on the outside of that corrupt system than on the inside."

I do as well. Especially when you get out of the cities and into more rural areas where self sufficiency is more prevalent and even a way of life.

The real question is......which way is it (corruption) trending?

LawsofPhysics's picture

No, the real question is "what can actually be sustained."   Taxes tha cannot be collected and laws that cannot be enforced are irrelevant.

Cognitive Dissonance's picture

You are discussing the end game. Again, I get your point and I agree.

I am discussing the agony in the long middle.

NoVa's picture

I get your point too.

Depends upon what region of the country though.  Here in NoVa or Washington MSA the majority of people (VAST MAJORITY) here are IN the corrupt system.  it is really sickening.  

I am the minority (actually moronity) for playing by the rules - work hard, expect to be reward for results, etc...  But it is my conscience and choice - I live by the ethical rules.  

We (the Mrs and I) have some good friends like us and a few neighbors like us - but that's about it.  Co-workers, people at the store or gym - one can easily tell that they are Milkers and Gamers.  

We are outta here in 2 years or less.  Our plan is to sell our real estate into the new POTUS and CONgress administration when they relocate all their cronnies to this area for political appointments - Deputy Secretaries, Associate Deputies, etc....  Fortunately, we live in a desirable neighborhood and will get a premium price for our McMansion - then outta here and back to normal life style.  I promise - we will not take this metro cancer with us wherever we end up.

Good Luck -




Farmer Joe in Brooklyn's picture


If you really want to stick it in the corrupt DC pricks' asses, you do a sale/leaseback on your house with a 2-year lease.  They buy it now at what is almost undoubtedly the top and you get to stay in the house while the value slides (or plummets) over the next couple of years.

Food for thought.

giovanni_f's picture

But but. There is some temporary data sampling artefact but once these people drop out of the workforce population for good the unemployment rate will go even negative. Buy with both hands!

Dr. Engali's picture

Everything is bullish. When most of the world is on the verge of being vaporized due to WWIII the market will surge to astronomical new highs in anticipation of all the new construction. 

NoVa's picture




Oldwood's picture

How many months does a person have to work before they requalify for unemployment benefits?

And can part time people qualify for benefits if laid off? I don't think so. If our economy has "recovered" due to predominantly part time jobs, and those released from these jobs do not count as unemployed, I would suggest that we have decoupled completely from any meaningful measure.

Cognitive Dissonance's picture

You forget....the sociopaths can and will change the rules.

LawsofPhysics's picture

Yes, and the faster they change the rules the quicker they become irrelevant.

Cognitive Dissonance's picture

Thus the reason the system is not only distorted beyond reason, but the population is forced to become dependent upon the distorted system.

Captive....bound and gagged with no where to go works for the sociopaths.

LawsofPhysics's picture

Bullshit.  Change is the only constant in life and that which cannot be sustained, won't be.

Cognitive Dissonance's picture

Too funny. You talk end game while I talk the meat in the middle.

We are in agreement here LOF. We are simply speaking past each other to make our specific points.

Roscoe's picture

"Give me a long enough lever and I can move the earth." In laws of physics and economy, it seems leverage is everything (f1d1=f2d2). As long as the corrupt continue to possess unlimited leverage, their ability to move the financial earth is assured. I know you will contend it is unsustainable, and therefore irrelevant, but the corrupts' ability to maintain overwhelming leverage might likely outlast the currently living population's ability to endure. Isn't it therefore relevant to discuss the 'middle period' which, on our timeline, might encompass our lifetime's endgame? I'd like to triumph in my lifetime. 

Cognitive Dissonance's picture

"Isn't it therefore relevant to discuss the 'middle period' which, on our timeline, might encompass our lifetime's endgame?"

In my opinion....Yes.

We do not know when it will end. We know for certain it is presently a reality. In order to cope we must accept it is what it is and deal with this reality.....even while we dream, plan and scheme for the inevitable end. These are not mutually exclusive actions, but rather needed in the proper proportion if we are to not only survive but possibly prosper in mind, spirit and body.

Thus the reason I began Two Ice Floes website. We must learn to live in two different the same time.

Tsar Pointless's picture

Speaking from experience, months worked has nothing to do with it. You have to earn a certain amount again from your new employer before you can requalify for UC benefits.

And, yes - part-time workers can still receive partial UC benefits, or even full benefits, depending upon how much they earn at their PT job. Generally, though, if you're working around 30 hours per week, chances are you won't be able to collect any UC benefits.

overmedicatedundersexed's picture

well it's not the numbers's what cnbc tells you the about the shoots and low interest rates will cause stimulus stimulus ...some of us just laugh, every bad number is stimulus for the last 7 years..getting very old.

toady's picture

Cnbc/MSM has to stick with the recovery meme at all costs.... Obama desperately doesn't want the next collapse to be on his watch. The next blowout is gonna be a big one!

A_latvian's picture

CNBC headline on EXACTLY the same data: 

Outlook improves as fewer Americans seek benefits

The number of Americans filing new claims for unemployment rose less than expected last week, a sign that the labor market continues to strengthen.                                          

JustObserving's picture

US crude oil imports averaged 7.980m b/d in Dec. compared to 6.296m b/d in Nov (ZH on Twitter)

Those shale oil jobs ain't coming back

Philo Beddoe's picture

I layed off my assistant well over a year ago. I think I spend 10 an extra 10 minutes a day doing what she used to do. I saved an extra 2 hours a day not listening to her woe is me saga every fucking day. So, I am basically ahead 1 hour and 50 minutes a day and saving a salary. 

LawsofPhysics's picture

You must work in an office.  I have internet in the cab of my tractor.  My "assistants" are out in the manure.  Good folks, I think I will keep them.

Philo Beddoe's picture

I used to rent an office. Now, i work from home and make sales calls all day. Back in the day I was on the road all everything is done over the net/ups.  I can work in my underwear when the AC goes down. 


LawsofPhysics's picture

Amazing isn't it?  I can be "virtually" anywhere on our 35,000 acre operation with the click of a button.

I can take steers to auction in Chicago and do everything remotely now as well.  Starting to think that my son was right.  I said "plastics is the future", he said "no dad, robotics".

Philo Beddoe's picture

That, and the truely productive can become more so.  Technology has done I fine job of exposing all the deadwood. Governement is another matter...for now. 

LawsofPhysics's picture

In fact, most bankers, financiers, politicians, academics, and other useless paper-pushers are the deadwood.  Fuck em.

thismarketisrigged's picture

of course the s&p is up 17 pts on futures this morning, i guess everything is fucking fixed.


isnt it amazing how yesterdays greek news was not announced until days end when they had done there pump, rather than when the ''market'' was down, and sure enough by todays open, everything is all good.


i want to fucking punch a banker in the face so fucking badly, i hate these fucks with a passion

mayhem_korner's picture



+1 for the "no ambiguity" closer