Starting to worry about the job numbers. Companies will usually hold off on layoff in November and December. October numbers are going to be a blood bath. (I think) But we won’t see them until December. Good way to give cover to corporations who are layoff people. We could really be fucked.
https://www.cbsnews.com/news/layoffs-warn-notices-october-employment-economy-federal-reserve-report/
Despite the lack of official government data, some other measures point to a cooling U.S. labor market. For example, outplacement firm Challenger, Gray & Christmas recently said that layoffs last month soared to their highest October level in 22 years, while ADP data released Tuesday shows U.S. companies shed an average of 2,500 jobs per week in the four weeks ending Nov. 1.
Some experts warn that the latest layoffs may be only an early sign of broader cutbacks yet to come. Pantheon Macroeconomics economists Samuel Tombs and Oliver Allen said in a Monday email that they expect layoffs to pick up next year amid wider AI adoption, while noting that the technology has had a “net positive impact” on the labor market so far this year.
The delayed September employment report, which will be released Thursday, will provide another barometer on the health of the U.S. labor market. Economists polled by financial data provider FactSet predict payroll gains of 50,000.
