– Jobless Claims Explode Higher After BLS ‘Revisions’; Tech Layoffs On ‘2001’ Pace:
After ugly ISM employment data, dismal JOLTS, soaring WARN notices, and a weaker than expected ADP print, this morning’s Challenger, Gray & Christmas report announced a bigger than expected 89,703 job cuts in March (270,416 year-to-date), up 319.4% YoY. The West dominated the cuts (East 13,638; Midwest 21,764; West 48,123; South 6,178), with technology-sector companies have announced 102,391 cuts so far this year, “on pace to surpass the highest annual total for the sector announced in 2001,” the report notes.
* * *
PayPal: Donate in USD
PayPal: Donate in EUR
PayPal: Donate in GBP