Challenger Shows Worst November For Job Cuts Since 2012

Tyler Durden's picture

Following hopeful survey data and ADP data, today's Challenger, Gray, and Christmas job cuts data is deplorable. A 30.1% surge year-over-year is the worst November since 2012...

 

The sectors with the largest job cuts in November were Healthcare, Consumer products, and Services.

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curbjob's picture

 

What ! no new jobs created from the Bitcoin bubble ?

 

 

upside is that unlike the housing, shale oil, .com, tulips etc bubbles bursting,  when BTC crashes there won't be a corresponding number of layoffs. 

yogibear's picture

Bullish! Good for another 1,000 points on the DOW.

MonetaryApostate's picture

You know they are forcing everyone into a totalitarian digital socialist hellhole correct?

wonger's picture

Oh no that means a bad NFP tomorrow and no FOMC rate rise next week causing euro to spike up near goldmans 1.20, but never actually hitting it lol

Philo Beddoe's picture

Tomorrow's bullshit NFP will be a beat I bet. Silver and Gold will get their ass pounded again. 

MuffDiver69's picture

Why hire part time seasonal workers when the stats show a surge in online buying..Reports coming out left and right it’s so large now UPS can’t guarantee Christmas deliveries...Let’s break it down by full and part time jobs..40,000 manufacturing jobs last month is worth 100,000 bullshit jobs ...

wonger's picture

When BTC crashes which it will, there might be some cheap computers on the market though oh and mining boots and helmets lol

yogibear's picture

Buy used Bitcoin mining computers cheap afterwards.

Juggernaut x2's picture

I can't wait for the Orange Dotard to own this shit when the economy implodes and all of the little Trumptards will cry "B-b-b-but Obama!"

wonger's picture

I think NFP will miss substantially and gold will spike up, im short gold, but i can smell a rally coming

MuffDiver69's picture

https://www.cnbc.com/amp/2017/12/07/linkedin-report-shows-a-26-percent-r...

U.S. employers hired more people in November than last year, but fewer than in October of this year, according to the LinkedIn Workforce Report.

Hiring across the U.S. was 26 percent higher last month than a year earlier, the data showed. The seasonally adjusted hiring figure was 2.2 percent lower than in October. Still, hiring has stayed consistently strong this year, LinkedIn says.

Year to date, U.S. hiring has been 10.4 percent higher in 2017 than in 2016.

The sectors with the biggest year-over-year increases were oil and energy, up 30 percent, manufacturing and industrial, 15.7percent higher, and aerospace, automotive and transportation, which is up 13.7 percent. The industries with the least growth in 2017 were media and communications, health care and pharmaceuticals and telecommunications.

bshirley1968's picture

"LinkedIn says"?  You're joking right?

I would believe that as much as I believe "views" on Facebook. 

Bottom line?  Oil at $50 tells you that real economy is a zombie. .....at best.  Trump's job narrative is fake news.  Funny how he claimed Obama's job numbers were fake but his are as good as gold.  Only thing worse that an obvious liar are people too stupid to see it.

hotrod's picture

AGREED. Amazed at how they force people to publcly display all their work experience and accumulated merit badges.  What happened to privacy.  REALLY ASHAME

wmbz's picture

None of this data means anything to the stawk "market", it is dissconected and has been. Stawks can only go up. Looks like the same for bitcoin.

Still do not understand why bitcoin miners use a dollar value. It is anti fiat, anti dollar so why say, I have a million dollars of bitcoin.

highwaytoserfdom's picture

 

GE third of them..  The NBC CNBC GE finance Welsh worst run company where Immelt spent every day with last adminstration.   12,000 were GE.

Now wait for FB GOOG MSFT  and the aother ALL_CIA_DUH  AlanBenFelon attack on capx for creators and supporting tax payer Tech and banks.

TheSkipper1967's picture

I just became one of those.  Reduction in force on Dec 1.  Worked for a billion dollar corp in the HomeCare and residential (Medicaid/Medicare) sector.  I am 50 and was surounded by 30-40 yr olds making $20k less.  They have little experience. are new hires and all are women.  They make mistakes but get the job done on a sub par basis.  That goes a long way in freeing up expenses.  Get rid of older and hire younger women.  I am in Finance and when I started it was 80/20 men to women in corp finance.  Now its 20/80.  For the past 4 years I've had all female co-workers.  Have had to get in tough with my feminine side just to get through the day and not get replaced sooner.  

hotrod's picture

Many companies gettng rid of older.  My daughter is 26 and her Company is buildng new HQ in Atlanta. She said it is very obvious they are getting rid of older and want new fresh faces in new HQ.  Working til 67 to get social security is harder and harder.

Muppet's picture

Over 60 work is everyone at my local Home Depot.

InnVestuhrr's picture

Life expectancy is going UP, but employment expectancy (ie number of years that you will be continuously employed at NET income levels high enough to enjoy stability, enjoy life. & retirement security) is going DOWN.

In this era, you MUST start/own your own business(s) to prosper, employment/wage lifestyle will leave you obsolete, unemployable and destitute by your 40's-50's.

 

SO SO SO SO grateful to myself that very early in life I made a jihad to focus on earning $$$, retired at age 45 financially independent in total control of my retirement income.