meanwhile "Hiring speeds up as U.S. economy adds 196,000 jobs in March" (ie adds as many jobs in 1 month as layoffs in 1 quarter)
https://www.marketwatch.com/story/hiring-speeds-up-as-econom...
The U.S. just had the most Q1 layoffs in a decade
111–120 of 243 posts
Re: The U.S. just had the most Q1 layoffs in a decade
#112Earlier quoted context omitted.
The ability to print money was outsourced to the Federal Reserve, while regulated by the govt it is not the govt. When we "borrow" money from the Fed it is at interest. We have created a debt based system where everything is a borrow. Fiat currencies are based on the value of the peoples ability to create value. When the people owe the banks more value than they can generate they are bankrupt. When the people and the…
The federal reserve would print the money. They probably have an even bigger interest in preventing the collapse of America's financial institutions. It's still a part is the government, just one with extra layers of separation from the executive. Like the FBI.
Incorrect
1. Applications for membership by State banks -- Any bank incorporated by special law of any State, operating under the Code of Law for the District of Columbia, or organized under the general laws of any State or of the United States, including Morris Plan banks and other incorporated banking institutions engaged in similar business, desiring to become a member of the Federal Reserve System, may make application to the Board of Governors of the Federal Reserve System, under such rules and regulations as it may prescribe, for the right to subscribe to the stock of the Federal reserve bank organized within the district in which the applying bank is located.
[edited for formatting]
Re: The U.S. just had the most Q1 layoffs in a decade
#113Earlier quoted context omitted.
You can always find catchy headlines if you get specific enough. "The worst performing Friday the 13th in a non leap year ever."
This isn't a particularly contrived analysis. Year-over-year quarterly financial statistics are extremely common, especially in company analysis since many filings are quarterly.
It's also not very deep. The unemployment rate has been at record lows for a while.
Re: The U.S. just had the most Q1 layoffs in a decade
#114Earlier quoted context omitted.
It's not just projections or worries. Companies have real hard data, such as sales pipeline, inventories, orders etc. If your sales pipeline is down, inventory is stocking up, and your warehouse is idle compared to a year before, it is a manager's job to lay off employees. a few interesting reports: https://www.reddit.com/r/StockMarket/comments/aydpbu/first_h... https://twitter.com/paulkrugman/status/1110161228507348…
This could leave you flat-footed when the economy picks back up or you realize it was a 'blip', so it's not an easy/clear decision to make because you see one or two numbers going down.
Not to mention, laying off people has a non-negligible impact to real peoples lives.
Re: The U.S. just had the most Q1 layoffs in a decade
#115Earlier quoted context omitted.
Because people believe in the FDIC, not that there won't ever be a bank run.
I don't think that if you picked the average person of the street that they'd know about FDIC. First, too many people don't have a lot of 'cash' savings. Second, as long as most people's debit and credit cards continued to work, they probably would not notice bank receivership. Most folks: don't have savings, have a chunk of money tied up in their retirement savings, and another chunk tied up in property/residence.
They probably have seen enough bank robberies in movies to know "your money is insured"
Re: The U.S. just had the most Q1 layoffs in a decade
#116Earlier quoted context omitted.
Meanwhile, the laborforce participation of 63% remains lower than 2014. I remember a time, when there was a different president, that this number was constantly referenced as evidence of a poor recovery. If the labor market is so robust why aren't people joining the workforce? [1] https://data.bls.gov/timeseries/lns11300000
You would have to correct for older people aging out since they make up a greater portion of the population than before. https://www.census.gov/newsroom/blogs/random-samplings/2016/... I would expect percentage of employed over age of 18 to be declining simply because the number of people retiring (or unable to work due to age) is greater than # of entering labor force.
When you look at the numbers you will see that it isn't so simple and other factors clearly come into play (social security disability is likely one factor).
For example, Georgia is the second youngest state with only 9.6% of the population over 65 years-old, but they have a below average laborforce participation rate of 62.8% [1]. Pennsylvania, with 15.6% of the population over 65 is the second oldest, but has a 62.9% participation rate.
Iowa is the 4th oldest state and has the 6th highest participation rate (68.8). North Dakota is 5th oldest and 3rd highest rate (69.3%). South Dakota is 8th oldest and 7th in LFPR (68.7%).
Re: The U.S. just had the most Q1 layoffs in a decade
#117Earlier quoted context omitted.
The FDIC couldn’t handle a run on every bank. If people thought there would be a massive run, they’d rush to withdraw their money despite the FDIC. So it’s really both: belief in the FDIC’s ability to handle small runs gives people the belief that there won’t be big ones.
The govt could just print the money out. Sure inflation, but when your economy is crashing inflation will encourage spending
There won't be inflation in that circumstance. The whole point would be to counter deflation with just enough money to bring about normal productivity before things really go south and nobody works at all.
In the long run, the injection would need to be unwound when things are back to normal though, or else there might be inflationary phenomena in one form or the other.
It's a tricky maneuver to execute because you're doing it on the broad economy, not specific sections.
Re: The U.S. just had the most Q1 layoffs in a decade
#118"The report said worry about an economic slowdown was the main driver of companies' layoff intentions." I sometimes wonder if these sorts of economic projections end up being self-fulfilling prophecies. If everyone tightens up spending because they expect a recession, that essentially guarantees there will be one.
Maybe boom/recession cycle height/depth is the resolution of human reaction time.
Re: The U.S. just had the most Q1 layoffs in a decade
#119Earlier quoted context omitted.
Is HN going to turn into just another boilerplate low-quality, sarcastic tribal sniping comments section? Seems like it's well on its way...
Garbage in garbage out... post a vapid factoid article that's spun to make a specific number look bad, with little context, and what else is there to say?
[deleted]
Re: The U.S. just had the most Q1 layoffs in a decade
#120Earlier quoted context omitted.
The whole economy is powered by belief. No bank would be able to handle a bank run.
Yes, but the government can. The 2008 crisis didn't happen in deposit banking, but it was effectively a "bank run" in the same sense you're talking about -- all the assets banks could normally use to draw on to meet obligations froze up, and they ran out of money. And the government stepped in, becoming a lender of last resort. And it worked (not well, maybe, but it worked). Saying "the economy is powered by belief"…
I think the absolutely titanic levels of quantitative easing that came and went in the last crisis can only be viewed as an unequivocal vote of confidence in our financial system. Consumers and investors got scared and shut down their buying, but we printed out way back to heaven and no one batted an eye. Fiat currency belongs in the pantheon of history's greatest inventions alongside fire, the wheel and electricity.