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Apr 23 - Layoffs Could Spike As Recession Is Already Here, Forecasters Say



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 4 weeks ago '17        #1
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Dante Haversham  topics gone triple plat - Number 1 spot x20
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icon Apr 23 - Layoffs Could Spike As Recession Is Already Here, Forecasters Say
 

 
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The US could see a rise in layoffs, and there's one indicator in the labor market that suggests a recession is already here, according to veteran market forecaster Danielle DiMartino Booth.

The Quill Intelligence Research chief strategist pointed to worrying signs in the labor market, despite headline job growth remaining strong. The economy added 303,000 workers in March — but the jobless rate has steadily ticked higher, rising from a low of 3.4% in April 2023 to around 3.8% last month.

As of February, the labor market has been pointing to a historical recession indicator that flashes when the unemployment rate rises 0.35% above its cycle low and holds above that level for at least three months. That was the case for the 2008 recession, Booth noted, with the National Bureau of Economic Research dating the recession back to the month the indicator was first triggered.

"So we're in a recession, as far as the unemployment rate is concerned," Booth said, speaking in an interview on The David Lin Report last week.

Job cuts have climbed this year. Total layoffs and discharges rose nearly 10% year-over-year in February, according to Federal Reserve data — and worker firings could accelerate in the coming months, Booth predicted, given that layoffs typically surge as firms report earnings.

She estimated that layoffs for the year could rise to 370,000 by the end of April. That would be the highest number of layoffs recorded over the first four months of the year since 2009, in the wake of the Great Financial Crisis, she said.

Booth has been warning for months of a coming wave of job losses. Top economist David Rosenberg has also predicted that the unemployment rate could rise to around 5% by the end of the year as a recession hits the economy.

 https://www.businessinsid .. ing-2024-4?amp
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141 comments

 4 weeks ago '16        #2
kuul  topics gone triple plat - Number 1 spot x12
Props total: 194266 194 K  Slaps total: 20930 20 K
So the dollar aint gonna be worth much if we lose these wars we in and our government is betting on white in every scenario? We running our economy on the idea that our hate is a sustainable commodity? Am i gaslighting... getting that right?
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Top 10 most propped recently  4 weeks ago '04        #3
ItAlY2BkLyN  topics gone triple plat - Number 1 spot x5
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Man it's hard out there. I see people on Linked In all the time going 4, 5, 6mo w/o being able to land another job. Had a homeboy get laid off with a big group from his company and he just had his second baby girl. 2 kids under 3 and no income
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 4 weeks ago '13        #4
boobalo1  topics gone triple plat - Number 1 spot x1
Props total: 29163 29 K  Slaps total: 3236 3 K
Gas got Houston jumping right now..
+17   

Top 10 most slapped recently  4 weeks ago '23        #5
Yopa 
Props total: 18723 18 K  Slaps total: 7653 7 K
Op forgot to mention the usual suspects in this thread
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 4 weeks ago '17        #6
Dante Haversham  topics gone triple plat - Number 1 spot x20 OP
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 Yopa said 🔗
Op forgot to mention the usual suspects in this thread
I didn't forget. Just tired of arguing with dudes that are being paid to push a bullsh1t narrative.
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Top 10 most slapped recently  4 weeks ago '23        #7
Yopa 
Props total: 18723 18 K  Slaps total: 7653 7 K
 Dante Haversham said 🔗
I didn't forget. Just tired of arguing with dudes that are being paid to push a bullsh1t narrative.
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Top 10 most slapped recently  4 weeks ago '23        #8
Yopa 
Props total: 18723 18 K  Slaps total: 7653 7 K
 kuul said 🔗
So the dollar aint gonna be worth much if we lose these wars we in and our government is betting on white in every scenario? We running our economy on the idea that our hate is a sustainable commodity? Am i gaslighting... getting that right?
Regardless of win or loss the $ will decline because other countries are moving away from being a banana Republics to the man . Countries are not hoarding treasury bonds , not being bullied & will not do business with the man no more . countries will buy cheaper EV'S from other countries & weaken Stellantis , Volkswagen, General Motors, Ford ,Honda & Toyota.


Last edited by Yopa; 04-23-2024 at 10:46 AM..
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 4 weeks ago '06        #9
imthatinfamous  topics gone triple plat - Number 1 spot x1
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I got nothing but gains today just sold my riskier positions
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 4 weeks ago '11        #10
Broseph Stalin  topics gone triple plat - Number 1 spot x17
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the recessions finally here guys forreal this time i swear!
+54   

Top 10 most propped recently  4 weeks ago '18        #11
DUCEDUCE  topics gone triple plat - Number 1 spot x3
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Some bubbles need to pop. Housing in particular and pricing for general goods. Lot of people got caught up with all the free money during the pandemic. Now companies want to charge us like we are getting this money.
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 4 weeks ago '17        #12
Lazy  topics gone triple plat - Number 1 spot x3
Props total: 57972 57 K  Slaps total: 8219 8 K
Silent depression is more accurate

We’ve been in it since COVID, hence the change in definition of a recession in 2021

Wishing everyone on BX the best
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Top 10 most slapped recently  4 weeks ago '23        #13
Yopa 
Props total: 18723 18 K  Slaps total: 7653 7 K
🔗


A capitalist just said the US economy is booming
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 4 weeks ago '15        #14
Eternal Outlaw 
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This summer is going to be treacherous i hope everyon reading this has their finances situated or at least working towards it including myself.
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 4 weeks ago '19        #15
Big Gurthy  topics gone triple plat - Number 1 spot x3
Props total: 37411 37 K  Slaps total: 4073 4 K
Yep the move has been to make yourself financially straight whether it’s to pay off debt and or minimize bullsh1t. sh1t about to get hot outhear. I know sh1t crazy when I open ig and fb messages and see ppl who ain’t ever reach out asking me flat out for money.
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 4 weeks ago '06        #16
Panasonic  topics gone triple plat - Number 1 spot x8
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Please crash housing market, need a repeat of 08 so I can get a house
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 4 weeks ago '18        #17
Passport  topics gone triple plat - Number 1 spot x2
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 Eternal Outlaw said 🔗
This summer is going to be treacherous i hope everyon reading this has their finances situated or at least working towards it including myself.
Well I think after the summer thats usually when the crashes happen. I expect people to be stretching out their last bit of fake balling with their credit cards until sh1t hits the fan and credit card companies stop giving out credit cards to many people
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 4 weeks ago '17        #18
Ymmot  topics gone triple plat - Number 1 spot x6
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 Broseph Stalin said 🔗
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the recessions finally here guys forreal this time i swear!
Yeah.....


Predicting the recession thread number 746265
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 4 weeks ago '05        #19
pippen33 
Props total: 80726 80 K  Slaps total: 9524 9 K
People conflate corporate greed with a recession
+23   

 4 weeks ago '22        #20
HERMES  topics gone triple plat - Number 1 spot x32
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 4 weeks ago '24        #21
Mixbag 
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 ItAlY2BkLyN said 🔗
Man it's hard out there. I see people on Linked In all the time going 4, 5, 6mo w/o being able to land another job. Had a homeboy get laid off with a big group from his company and he just had his second baby girl. 2 kids under 3 and no income
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n1gga better sell drugs
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 4 weeks ago '24        #22
Mixbag 
Props total: 8191 8 K  Slaps total: 2179 2 K
 Yopa said 🔗
Op forgot to mention the usual suspects in this thread
Op is also a f@gg0t
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 4 weeks ago '21        #23
Imheretolaugh 
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*laughs in CDL*
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 4 weeks ago '19        #24
GetYaCoinsKing  topics gone triple plat - Number 1 spot x1
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 ItAlY2BkLyN said 🔗
Man it's hard out there. I see people on Linked In all the time going 4, 5, 6mo w/o being able to land another job. Had a homeboy get laid off with a big group from his company and he just had his second baby girl. 2 kids under 3 and no income
emoji
sh1ts getting worst, I have a homegirl who's background is in HR/Recruitment;
She been unemployed for almost a year, Putting in 50+ applications a week yesterday she was telling me that they kept ghosting her or putting her through these 'round interviews' only to end-up giving the job to someone else, Also the new thing is apparently they're having applicants do 'small tasks' essentially working for free and they'll string them along for months to get free labor out of them, ITS WILLLDDD.
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Top 10 most slapped recently  4 weeks ago '23        #25
Yopa 
Props total: 18723 18 K  Slaps total: 7653 7 K
 Mixbag said 🔗
Op is also a f@gg0t
Is op a Cheeto guy ?
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