U.S. Economy Slowdown > Massive Job Losses

Jobless guy

“According to Challenger, Gray & Christmas, U.S. firms announced 65,141 job cuts during April, which represented a massive 35 percent increase over the previous month. And so far this year overall, job cut announcements are running 24 percent higher than for the exact same period in 2015. Meanwhile, on Thursday we learned that initial claims for unemployment benefits shot up dramatically last week. In fact, the jump of 17,000 was the largest increase that we have seen in over a year. Of course the U.S. economy has been slowing down for quite a while now, and many have been wondering when we would begin to see that slowdown reflected in the employment numbers. Well, that day has now arrived.”

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Filed under Economy, Unemployment

3 responses to “U.S. Economy Slowdown > Massive Job Losses

  1. Ouch. Gonna be a rough summer.


  2. Pistol Pete

    But…but the president is bragging about how we’ve had 84 straight months of job growth….unemployment is under 5%…..he cleaned up Bush’s mess….he deserves all the credit.Now excuse me while I go throw up a little.