New York ISM Employment Crashes At Fastest Pace Ever To 7-Year Lows

Tyler Durden's picture

For the second month in a row, New York Purchasing Managers saw contraction in the headline, printing 49.6 (below 50). Though a slight improvement from August's 47.5, the outlook tumbled to 59.5 (from 65.5) but it was the carnage in the jobs market that is most notable. ISM NY Employment crashed from 54.9 to 33.9 - its biggest drop ever - back to June 2009 lows...

Probably nothing...

The chart is adjusted for expansion/contraction at the 0-x-axis representing 50.

Notably, Expected Demand in 6 months also fell to its lowest since April.

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pickatheweek's picture

Great reason to load up on Shake Shack right? What a freaking shit show.  Fuck you Danny Meyers

BandGap's picture

Death throes of an economy.

Catching up to France.

NoDebt's picture

"printing 49.6 (below 50)"

The "below 50" part was for me, I think.  I always come in and shoot off my mouth how it's still above 50.  I guess I deserve that.

Maybe Kunstler was right.  Maybe we should drop this economy right in Hillary's lap.

 

Mr. Bones's picture

drop this economy right in Hillary's lap.

She'll advocate doing the same thing, only harder.  She won't let the crisis go to waste and her lap dog media will gleefully endorse all the things that they've said Trump would do.

I guess I don't see the benefit.

CuttingEdge's picture

The middle class already know what's coming - she was honest enough to give them fair warning.

whatamaroon's picture

You are behind the times. It's all Trumps fault!

Sages wife's picture

Worst since Lehman.

Rainman's picture

" This is a big fuckin deal "

         ~ Biden

King Tut's picture

I'm just taking a Greyhound on the Hudson River Line

'Cause I'm in an unemployed state of mind

Squid Viscous's picture

bullish! qqq's about to blow through all time highs and the vix is getting ass raped, again

GoldToDaMoon's picture

This is strongly suggestive of a second half recovery (second half of the century, that is).

jdow's picture

Now the Market will rally 10%.  Bad news is good news.  We should all invest 100% in everything on the long side.  There is no more downside.

sharonsj's picture

What happened to hiring for the holidays?

Squid Viscous's picture

you mean rusha-homa and "Yom"?

everyone buys their dreidels on Amazon now...

wrwk_ec's picture

Nothing like 2008-2009, data is so mixed in the past few months it's really hard to get a clear picture...just my opinion

Posa's picture

Actually the trend that started in late 2015 very closely traces the same intervel that began in 2008.

 

DemandSider's picture

As a direct beneficiary of the Greatbatch Medical  move from Clarence, New York to Minnesota, this is not too surprising to me. It's easy to forget that it's mainly NYC that is involved in the parasitic FIRE sectors, not the whole state.