This page has been archived and commenting is disabled.
Labor Department Finally Notices The Jobs Bloodbath In Texas: Midwest "Discharges" Surge To 4 Year High
Both in February and in March, in the aftermath of the total collapse in energy-related jobs in Texas, we had a simple, if recurring, question for the Bureau of Labor "Statistcs":
and:
The answer was Yes and Yes.
However, we are delighted that in the latest monthly JOLTs report, the BLS has finally noticed the bloodbath for highly-paid energy jobs which, as we showed just last week courtesy of Challenger Gray data, is unprecedented and compares to the devastation in the aftermath of the Lehman collapse, namely this.
So what did JOLTs notice?
It wasn't that job openings - the category most pay attention to in the JOLTS report - not only missed consensus expectations by over 100K, but tumbled from 5.144MM to 4.994MM, the biggest drop since September of 2014...
... but that involuntary terminations, i.e. "layoffs and discharges", surged from 1.688MM to 1.793MM - the highest since last July - by nearly double the amount of "good" voluntary separations, or "quits", which rose by 63K to 2.783MM.
But the most notable aspect of today's JOLTs data was that March layoffs in the Midwest region, aka Texas and the various other shale-heavy regions, saw terminations soar to 455K from 340K, the biggest monthly total in layoffs for the region since June 2011, and the largest monthly jump since August of 2013.
Sadly, this also confirms that the BLS is now just 2-3 months behind the curve on what is really going on in the Texas shale space, where as shown above, the pink-slip storm is now the worst since the Great Financial Crisis. Expect to see the Challenger real-time data trickle through to the BLS with the usual one quarter, seasonally-adjusted delay.
»
- 13398 reads
- Printer-friendly version
- Send to friend
- advertisements -
Ouch, nowhere for those loser Cali freaks to run.....best of luck to you. May God have mercy on you, oh that's right you don't belive in him, well - may your pagean god have mercy on you.
Breaks over, back to work, FoxConn'd.
Don't over think this...
It's the weather!
Just hope that this fucking houston traffic will start to die down some.
Austin, Texas traffic is a tragic comedy.
Austin, the blueberry of Texas.
Austin, the "Most Congested Mid-Size City in Merika."
Oh yeah, soon it will also be the "Knockout Punch Capitol" of Texas.
6th Street and South Congress ain't safe any more. Shame. Used to be a nice safe hangout for college kids until the Thugs took it over.
The influx of college kids "fresh off of the farm" serves as fodder for said thugs.
They've even went so far here as to move into the fancy new student housing towers downtown...
right next to the 'hood.
Just another cog in Liberal nazism's race toward The Ocean of Blood http://wp.me/p2kmGE-3Ie
El Paso (Greater Juarez), the dingleberry of Texas.
Blueberry or Blackberry as in old news like the phone or as in the color of more and more residents.
I don't consider Austin a part of Texas. Austin is one of teh most God-less places on earth, right up there with San Fran. I avoid it like the plague that it is.
if you want to be around really pissed off lesbos than austin is the town. the great unbathed....bunch of old haggard hippies from the 1960's mixed with cali golden locust driving up prices. got a band playing free at every eatery and they all sound the same. worst texmex food in the country. they even stole their 'keep austin weird' from portland....
My fav's are Brownwood, Port A, and the Rocksprings area. Oh don't forget the canyons in the panhandle.
Yeah. Around 2AM in the morning.
Yeah, it sucks big time!
Am glad I live more than an hour from Houston and only have to go there a couple times a year....
Some of us in Cali are believers and just stuck for now. Trust me it sure is ugly here.
Sadly - geographically - Calif is beautiful. The only pretty close is Italy. Sadly - the leftist scum, uch of it migrating from NE cities, has destroyed the state.
Sadly those parasites are running to Idaho and Colarado especailly with pot.
Hopefully the scum will only get as far as Vegas and die in that desert shithole.
I like the fact that TX keeps weed illegal and same with gay marriage, helps keep out the undesirables. Every little bit helps. Fuck you fags and pot heads go to CO and WA.
The working class folks in Coloado who voted for pot are gonna be sorry. It is driving up housing costs even faster than what was going on in the past few years.
Lies, Damn Lies, and Statistics
The good news is gas prices are going up just in time for driving season, so yeah, we have that going for us.
What about the Dali Lama and his golf game?
Next round of QE on tap...drive back down the dollar, prop up crude, get that leverage back in the energy market, hire more people, take out 110% loans, buy a home, buy more things...isn't how this is supposed to go in this god-forsaken keynesian/marxist nightmare we live in?
I have word that everyone of those people layed off and fired in energy, retired or went on permanent disability therefore, they're no longer part of the employment pool and can't be listed as unemployed.
And don't forget about all of those supposed "independent contractors" who were never employed and therefore cannot now be deemed unemployed, despite looking in dumpsters behind Burger King for meals.
Yeah? Tell me how to get that deal cowboy.
Hey?!?!?
Curious then, who the F@&k is overpaying for houston and austin real estate? Because according to the price levels, most people can afford to buy million dollar sht holes.
Trust me they are going to regret that decision real soon. Watch out below. got my pop corn ready
The greater fools that still have access to credit.
Pretty sure ATX and SA real estate is being used to launder large quantities of illicit (read: narco) proceeds from down south, much like Manhattan is cleaning fiat from across the pond, same as Vancouver is from the Far East. All the parasites in the chain (realtors, banks, and trickle downers) are turning a blind eye b/c w/o it, the FIRE economy collapses. And with it, so goes the rest. With 6% at closing, nobody's saying nuthin. And any market losses pail in comparison to the gains of tax evasion.
Well, Dan Loeb should hire some thugs to paint "Third Point Capital" inside the old DOW Chemical red diamonds.
Preferably one's that can spell...
BULLISH...............LOL.LOL.LOL
And the wave will spread to the coastlines from sea to shining sea. Brace yoself foos!
Why doesnt North and South Dakota then have a bunch of job losses? Dont they have a lot of shale jobs?
Texas where the only thing bigger than the wide open spaces are the women's asses.
Got out of the military 1971 and came home to Houston. Driving my van to work (remember, it's 1971) I hear the guy on my radio saying, "There are 1,054 FAMILIES (think 4.2 people per) moving to Houston. It ain't no bettah nowadays.