B
Black Swan
The impact of these mass lay off statistics from the BLS never fail to shock; 2,561 mass layoff actions in September, year-to-date mass layoff events (23,745). Close on 25,000 businesses employing 50+ have shuttered in the US this year to date, close on 50,000 since the recession started in 2007...
Not suggesting this will lessen the impact of the NFP news, it'll still be 'shock horror' in either direction, but this info. suggests the trend is hardly slowing; mass lay offs only slowed by 129 vis a vis previous month. This also illustrates why Obama is now very concerned re. beefing up small business levels, if the mass lay offs (businesses that employ circa 50) continues to ravage down through to businesses which employ less than 20 then the US recovery is decades off (IMHO)...How long can the bubble in equities last without an obvious construct for support?
Mass Layoffs Summary
Employers took that resulted in
the separation of 248,006 workers, seasonally adjusted, as measured by
new filings for unemployment insurance benefits during the month, the
U.S. Bureau of Labor Statistics reported today. Each action involved
at least 50 persons from a single employer. The number of mass layoff
events in September decreased by 129 from the prior month, and the num-
ber of associated initial claims decreased by 11,301. Over the year,
the number of mass layoff events increased by 271, and associated ini-
tial claims increased by 7,285. Year-to-date mass layoff events (23,745)
and initial claims (2,410,208) both recorded program highs. In September,
856 mass layoff events were reported in the manufacturing sector, sea-
sonally adjusted, resulting in 97,066 initial claims. Over the month,
the number of manufacturing events decreased by 44, while associated
initial claims increased by 3,174. (See table 1.)
During the 22 months from December 2007 through September 2009, the
total number of mass layoff events (seasonally adjusted) was 47,230,
and the number of initial claims filed (seasonally adjusted) in those
events was 4,804,642. (December 2007 was the start of a recession as
designated by the National Bureau of Economic Research.)
The national unemployment rate was 9.8 percent in September 2009, sea-
sonally adjusted, little changed from 9.7 percent the prior month and
up from 6.2 percent a year earlier. In September, total nonfarm pay-
roll employment decreased by 263,000 over the month and by 5,785,000
from a year earlier.
Industry Distribution (Not Seasonally Adjusted)
The number of mass layoff events in September was 1,371 on a not sea-
sonally adjusted basis; the number of associated initial claims was
123,177. (See table 2.) Over the year, the number of mass layoff
events increased by 79, while associated initial claims decreased by
6,409. Five of the 19 major industry sectors reported program highs in
terms of average weekly initial claimants for the month of September:
mining; utilities; wholesale trade; finance and insurance; and manage-
ment of companies and enterprises. (Average weekly analysis mitigates
the effect of differing lengths of months. See the Technical Note.)
The manufacturing sector accounted for 33 percent of all mass layoff
events and 42 percent of initial claims filed in September 2009. A
year earlier, manufacturing made up 28 percent of events and 36 per-
cent of initial claims. Within manufacturing, the number of claimants
in September was greatest in machinery (12,389) and transportation
equipment (7,331). (See table 3.) The construction sector accounted
for 12 percent of mass layoff events and 9 percent of initial claims.
http://www.bls.gov/news.release/mmls.nr0.htm
Not suggesting this will lessen the impact of the NFP news, it'll still be 'shock horror' in either direction, but this info. suggests the trend is hardly slowing; mass lay offs only slowed by 129 vis a vis previous month. This also illustrates why Obama is now very concerned re. beefing up small business levels, if the mass lay offs (businesses that employ circa 50) continues to ravage down through to businesses which employ less than 20 then the US recovery is decades off (IMHO)...How long can the bubble in equities last without an obvious construct for support?
Mass Layoffs Summary
Employers took that resulted in
the separation of 248,006 workers, seasonally adjusted, as measured by
new filings for unemployment insurance benefits during the month, the
U.S. Bureau of Labor Statistics reported today. Each action involved
at least 50 persons from a single employer. The number of mass layoff
events in September decreased by 129 from the prior month, and the num-
ber of associated initial claims decreased by 11,301. Over the year,
the number of mass layoff events increased by 271, and associated ini-
tial claims increased by 7,285. Year-to-date mass layoff events (23,745)
and initial claims (2,410,208) both recorded program highs. In September,
856 mass layoff events were reported in the manufacturing sector, sea-
sonally adjusted, resulting in 97,066 initial claims. Over the month,
the number of manufacturing events decreased by 44, while associated
initial claims increased by 3,174. (See table 1.)
During the 22 months from December 2007 through September 2009, the
total number of mass layoff events (seasonally adjusted) was 47,230,
and the number of initial claims filed (seasonally adjusted) in those
events was 4,804,642. (December 2007 was the start of a recession as
designated by the National Bureau of Economic Research.)
The national unemployment rate was 9.8 percent in September 2009, sea-
sonally adjusted, little changed from 9.7 percent the prior month and
up from 6.2 percent a year earlier. In September, total nonfarm pay-
roll employment decreased by 263,000 over the month and by 5,785,000
from a year earlier.
Industry Distribution (Not Seasonally Adjusted)
The number of mass layoff events in September was 1,371 on a not sea-
sonally adjusted basis; the number of associated initial claims was
123,177. (See table 2.) Over the year, the number of mass layoff
events increased by 79, while associated initial claims decreased by
6,409. Five of the 19 major industry sectors reported program highs in
terms of average weekly initial claimants for the month of September:
mining; utilities; wholesale trade; finance and insurance; and manage-
ment of companies and enterprises. (Average weekly analysis mitigates
the effect of differing lengths of months. See the Technical Note.)
The manufacturing sector accounted for 33 percent of all mass layoff
events and 42 percent of initial claims filed in September 2009. A
year earlier, manufacturing made up 28 percent of events and 36 per-
cent of initial claims. Within manufacturing, the number of claimants
in September was greatest in machinery (12,389) and transportation
equipment (7,331). (See table 3.) The construction sector accounted
for 12 percent of mass layoff events and 9 percent of initial claims.
http://www.bls.gov/news.release/mmls.nr0.htm
