{"id":1461235,"date":"2024-03-07T13:35:49","date_gmt":"2024-03-07T18:35:49","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1461235"},"modified":"2024-03-07T13:35:49","modified_gmt":"2024-03-07T18:35:49","slug":"jobless-claims-refuse-to-budge-despite-accelerating-warn-notices","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/jobless-claims-refuse-to-budge-despite-accelerating-warn-notices\/1461235\/","title":{"rendered":"Jobless Claims Refuse To Budge Despite Accelerating WARN Notices"},"content":{"rendered":"

Jobless Claims Refuse To Budge Despite Accelerating WARN Notices<\/span><\/p>\n

\n

In the real world labor market, 2024 has been a shitshow of layoffs…<\/strong><\/p>\n

1. Everybuddy: 100% of workforce
\n2. Wisense: 100% of workforce
\n3. CodeSee: 100% of workforce
\n4. Twig: 100% of workforce
\n5. Twitch: 35% of workforce
\n6. Roomba: 31% of workforce
\n7. Bumble: 30% of workforce
\n8. Farfetch: 25% of workforce
\n9. Away: 25% of workforce
\n10. Hasbro: 20% of workforce
\n11. LA Times: 20% of workforce
\n12. Wint Wealth: 20% of workforce
\n13. Finder: 17% of workforce
\n14. Spotify: 17% of workforce
\n15. Buzzfeed: 16% of workforce
\n16. Levi’s: 15% of workforce
\n17. Xerox: 15% of workforce
\n18. Qualtrics: 14% of workforce
\n19. Wayfair: 13% of workforce
\n20. Duolingo: 10% of workforce
\n21. Rivian: 10% of workforce
\n22. Washington Post: 10% of workforce
\n23. Snap: 10% of workforce
\n24. eBay: 9% of workforce
\n25. Sony Interactive: 8% of workforce
\n26. Expedia: 8% of workforce
\n27. Business Insider: 8% of workforce
\n28. Instacart: 7% of workforce
\n29. Paypal: 7% of workforce
\n30. Okta: 7% of workforce
\n31. Charles Schwab: 6% of workforce
\n32. Docusign: 6% of workforce
\n33. Riskified: 6% of workforce
\n34. EA: 5% of workforce
\n35. Motional: 5% of workforce
\n36. Mozilla: 5% of workforce
\n37. Vacasa: 5% of workforce
\n38. CISCO: 5% of workforce
\n39. UPS: 2% of workforce
\n40. Nike: 2% of workforce
\n41. Blackrock: 3% of workforce
\n42. Paramount: 3% of workforce
\n43. Citigroup: 20,000 employees
\n44. ThyssenKrupp: 5,000 employees
\n45. Best Buy: 3,500 employees
\n46. Barry Callebaut: 2,500 employees
\n47. Outback Steakhouse: 1,000
\n48. Northrop Grumman: 1,000 employees
\n49. Pixar: 1,300 employees
\n50. Perrigo: 500 employees<\/p>\n

But, according to the government-supplied data…<\/strong><\/p>\n

The number of Americans filing for jobless benefits for the first time last week was flat at 217K (SA) while claims declined on an NSA basis to four month lows…<\/strong><\/p>\n

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

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

Continuing Claims ticked back above 1.9mm for the first time since November…<\/strong><\/p>\n

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

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

And WARNs have surged recently as claims haven’t…<\/p>\n

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

As a reminder, if you doubt the accuracy of the Biden admin’s data, here’s what the most recent FOMC Minutes said:<\/p>\n

“While the recent trends prior to the meeting had been remarkably positive, Fed officials judged that some of the recent improvement \u201creflected idiosyncratic movements in a few series.\u201d<\/em><\/strong><\/p>\n

Even they aren’t buying it.<\/p>\n

But, Pantheon Macro expects that to change soon…<\/p>\n

“Claims are still very low by historical standards. <\/strong><\/em><\/p>\n

We expect that to change soon.<\/em><\/p>\n

The WARN numbers, capturing advance notice of plant closures and mass layoffs, have jumped recently and point to initial claims rising significantly over the next few months”<\/em><\/strong><\/p>\n

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

Of course, we know the solution…<\/strong><\/p>\n

Dear BLS: you’re going to have to rig state level WARN data next cause it’s, well, diverging pic.twitter.com\/YWvyULOqNQ<\/a><\/p>\n

\u2014 zerohedge (@zerohedge) February 23, 2024<\/a><\/p>\n

Ah, Bidenomics!!<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nThu, 03\/07\/2024 – 08:35<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/markets\/jobless-claims-refuse-budge-despite-accelerating-warn-notices<\/a>\u00a0<\/p>\n

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

Jobless Claims Refuse To Budge Despite Accelerating WARN Notices In the real world labor market, 2024 has been a shitshow of layoffs… 1. Everybuddy: 100%…<\/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-1461235","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\/1461235","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=1461235"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1461235\/revisions"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1461235"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1461235"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1461235"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}