Whatever Payroll Numbers Show Tomorrow...
The trend over the past several weeks to months has increasingly been one of flashing orange to red about employment prospects worldwide, including - not excluding - the largest economies, like the United States, heading into the new year.
Recession 2016 Leading Indicator - Mass Layoffs
The following partial list, compiled by Chris Marenson over at Seeking Alpha, really illustrates what a nasty trend we have been seeing as of late.
Mass planned closings, layoffs and redundancies compiled since Jan 1st
- Johnson & Johnson to slash 3,000 jobs
- Wal-Mart pulls plug on smallest store format, shuts 269 stores
- GE plans to cut 6,500 jobs in Europe
- BP to slash thousands more jobs in face of oil downturn
- Macy's to cut 3,000 jobs, close 36 stores
- Sprint cutting 2,500 and closing call centers to cut costs
- Canadian Pacific Railway plans to cut 1,000 positions
- Brazil economy shed 1.5 million payroll jobs in 2015
- Pearson to cut 4,000 jobs in latest restructuring
- Barclays to slash about 1,000 investment bank jobs worldwide
- Southwestern Energy to lay off 1,100 workers amid oil slump
- Major banks are making cuts: Bank of America, Citi Group and JPMorgan Chase are trimming jobs and branches.
- Autodesk to cut 10 pct of workforce
- Caterpillar closing 5 plants, cutting 670 jobs
- VMware posts higher-than-expected revenue, announces job cuts
- AIG to cut jobs in sweeping overhaul
- Monsanto to slash 1,000 more jobs, total planned cuts at 3,600
- Instacart layoffs may be a sign of things to come
- EMC plans layoffs as it cuts annual costs by $850M
It is very apparent looking at the above list that the strongest drivers of the US econony since the end
of the Great Recession: Energy, Finance and Tech, are now largely rolling rolling over.