{"id":1457487,"date":"2024-02-15T13:46:59","date_gmt":"2024-02-15T18:46:59","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1457487"},"modified":"2024-02-15T13:46:59","modified_gmt":"2024-02-15T18:46:59","slug":"despite-ongoing-mass-corporate-layoffs-govt-supplied-jobless-claims-data-continues-to-decline","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/despite-ongoing-mass-corporate-layoffs-govt-supplied-jobless-claims-data-continues-to-decline\/1457487\/","title":{"rendered":"Despite Ongoing Mass Corporate Layoffs, Govt-Supplied Jobless Claims Data Continues To Decline"},"content":{"rendered":"

Despite Ongoing Mass Corporate Layoffs, Govt-Supplied Jobless Claims Data Continues To Decline<\/span><\/p>\n

\n

As mass corporate layoffs continue to mount, with CSCO the latest to announce (a 5% global workforce reduction), why should we be shocked that expectations were for a very small rise in initial jobless claims (from 218k to 220k) last week.<\/p>\n

<\/a><\/p>\n

Source: Layoffs.fyi<\/em><\/p>\n

What does that look like – in the real world labor market – in 2024<\/strong>…<\/p>\n

1. Twitch: 35% of workforce
\n2. Roomba: 31% of workforce
\n3. Hasbro: 20% of workforce
\n4. LA Times: 20% of workforce
\n5. Spotify: 17% of workforce
\n6. Levi’s: 15% of workforce
\n7. Xerox: 15% of workforce
\n8. Qualtrics: 14% of workforce
\n9. Wayfair: 13% of workforce
\n10. Duolingo: 10% of workforce
\n11. Washington Post: 10% of workforce
\n12: Snap: 10% of workforce
\n13. eBay: 9% of workforce
\n14. Business Insider: 8% of workforce
\n15. Paypal: 7% of workforce
\n16. Charles Schwab: 6% of workforce
\n17. Docusign: 6% of workforce
\n18. UPS: 2% of workforce
\n19. Blackrock: 3% of workforce
\n20. Citigroup: 20,000 employees
\n21. Pixar: 1,300 employees
\n22. Cisco: 5% of workforce<\/p>\n

And here’s the government-supplied statistics…<\/p>\n

Instead, the number of Americans filing for jobless claims for the first time decline to 212k (of course it f**king did!)…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

However, Continuing Claims ticked up<\/strong> from 1.86mm to 1.895mm (above exp of 1.88mm)…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

As a reminder, here’s what Richmond Fed governor Tom Barkin warned last week:<\/p>\n

“I am cautious about accuracy of numbers around the turn of the year.”<\/strong><\/em><\/p>\n

Cautious all year round more like…<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nThu, 02\/15\/2024 – 08:46<\/span><\/p>\n

\u200bRead More<\/a>\u00a0<\/p>\n

\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Despite Ongoing Mass Corporate Layoffs, Govt-Supplied Jobless Claims Data Continues To Decline As mass corporate layoffs continue to mount, with CSCO the latest to announce…<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1457487","post","type-post","status-publish","format-standard","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1457487","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1457487"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1457487\/revisions"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1457487"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1457487"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1457487"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}