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Initial Jobless Claims Jump Most In 8 Months As Energy Sector Layoffs Spike Back To 6-Month Highs
Just when you thought (for the 10th time this year) that the worst was over in the US energy space, Challenger Grey reports a massive spike in Energy sector layoffs - to six-month highs. For context, energy sector layoffs are 9 times higher in 2015 than 2014 and Texas - with 103,422 layoffs - is the worst state for job cuts (despite Dallas Fed Fisher's previous insistence that the state is 'diversified'). Despite the ongoing side in initial jobless claims, employers have announced 543,935 job cuts in 2015 so far, 31% higher than 2014.
Claims surged 16k in the last week - a 6.15% rise which is the most since February...
Is this the catch up?
It's not over...
Led by a surge in Texas...
As Challenger concludes, it could be about to get a lot worse...
"Now, we are heading into what has historically been a period of heavy job cutting, even in the strongest economy. The fourth quarter is when many companies make adjustments to operations and payrolls in order to hit year-end earnings goals."
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Don't worry these energy jobs are not high paying good jobs. We need more bartenders and waitresses, that's America's future.
North Dakota is last/least? Maybe their energy jobs are already gone?
<<< MOAR QE
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More DERP
Clearly doesn't matter. We will have Xmas hiring to goose the numbers, the January layoffs will be double seasonally adjusted away, the dismal holiday shopping numbers will be explained by Gift Cards and, well you get the idea.
Gold is not spiking on this news. So you know that everything is great with the juggernaut called the US economy - sub 5% official unemployment rate anyday now
Everything is awesome but the Fed should wait until next year to raise rates.
- God
Raising rates has become a myth.
The discovery of big foot could be annouced before an increase in rates.
Yellen?
Dickface Congress critter brad Sherman stating God doesn't want the rates to be elevated.
http://www.wsj.com/articles/BL-REB-34403
Dems must be getting nervous. Brad isn't the only one bringing God into the conversation. Following the blowout in the Kentucky governor's race yesterday, the speaker of the KY house (a Democrat) gave a rambling speech in which he tried to claim that Christianity represented the core values of the Democrat party. (Well, maybe in KY, sort of...) https://www.youtube.com/watch?v=qbxzUfhRHJo starting around the 1:00 minute mark.
Near the end of the speech (5:20) he starts talking about the Ds being rescued next year by a horse, an Arkansas Traveler, ridden by a female jockey. I think he confused himself. He thinks Ds will be rescued by an Arkansas nag?
Ben Carson's popularity must be scaring them.
Did I hear someone say "Liftoff" ........
I think it was that dumb cunt Becky Quick.
in other words, BONUS TIME AGAIN!!
you guys did'nt hear the little Nirp trial ballon mouse squeak the Fellen floated yesterday or what?
I heard it. Everyone is so focused (worried) about the Fed raising rates that no one seems to hear what is actually being said which is "the Fed is currently holding the rate where it is and if things get worse we are prepared to take the rate negative and in the unlikely event that things get better we will raise rates."
My take is the Fed will raise rates 0.25 in December, market will crash as muppets get trampled heading to the exits, and then rate will be immediately set to negative. I think the Fed doesn't have the balls to take the rates from 0 to negative under these "normal" conditions but really want to take the rate negative. I think they and their banksta masters are worried that 2016 will be the last year of free money because it is O's last year. It was a good run and they can make shitloads more if the rate is negative for all of 2016.
I believe you may be on to something. If they raise rates and the markets crash, they can say "Well, we tried raising rates and that didn't work so well. Therefore we're reversing direction and trying negative rates."
Unfortunately for the bulk of us, we will not see negative mortgage rates, nor will we see negative credit card rates. But wouldn't that be wonderful: charge $10K and watch the balance evaporate over time. Sign me up if that ever comes about.
I remember at one place I was laid off was asked to delay the announcement to smooth the State numbers out a bit.
Why didn't you ask for a 52:1 compouded daily interest too your ??? | 100k - 2.5 million portfolio? It would shove the blatant theft up between their asshole.
05Nov/Semiannual OTC derivatives statistics
05 Nov/OTC derivatives statistics at end-June 2015
The Cult - Hollow Man - YouTube
;) cunts are in a flury to borrow more Social Security Trust/Pension funds to cover another bet to recover loses.
Ecomically speaking, the West is in a complete freefall now. There is not going to be any recovery until rock bottom. Too many people are in denial. They will keep making it worse until devistation.
Bank of America to Sell $87 Billion Money-Market Fund Business to BlackRock
There was a time when banks were local and self funded. Bankers also got hung for being unethical. Does Iceland ring a bell?
You can't make this shit up.
The top ten states say it all...
This is a meat and bones layoff recession.
That Energy Sector Layoffs chart - crikey.
DavidC
Lol at these comments. This blip is barely an uptick. Look at the initial claims graph - long term downward trend. There have been upticks like this in the past, but the trend was still down.
Let's get real, people. Look at the graph, stop wishing for the end of civilization so your short positions are finally worth something.
Initial claims only goes through 2014 broseph...besides, initial claims is like measuring the flow of water through a hole in the boat, while your waist deep and saying "hey, the water isn't coming in as fast now!"
I didn't know District of Columbia was such a high energy sector---oh yea, forgot about HOT AIR!!!
Liftoff!
BONER TIME!!! Wait a minute...