Something smells funny about the employment data. It's one thing for the tech industry to trim the fat it gained over the last few years, but transportation companies are starting to lay folks off. That's a bad sign of things to come.
Hi Seth, lot's of revisions and a rebenchmarking with this report, so something could definitely be off. According to the BLS, though, transportation & warehousing added 44.8k jobs in January. Do you have a source for the layoffs?
- FedEx is laying off 10% of upper management. They are also beginning a complete overhaul of its business consolidating its ground, express & LTL business units.
- CH Robinson has announced layoffs.
- DHL is shutting down a subsidiary in VA.
- Amazon has announced layoffs.
More layoffs will come once all the holiday online order returns are processed. I would guess by the end of February.
When I see the positive employment data from the general government, but know of all these layoffs it just doesn’t make sense.
But what do I know. I’m not a professionally trained economist. 😁
Something smells funny about the employment data. It's one thing for the tech industry to trim the fat it gained over the last few years, but transportation companies are starting to lay folks off. That's a bad sign of things to come.
Hi Seth, lot's of revisions and a rebenchmarking with this report, so something could definitely be off. According to the BLS, though, transportation & warehousing added 44.8k jobs in January. Do you have a source for the layoffs?
All the layoffs have been documented:
- FedEx is laying off 10% of upper management. They are also beginning a complete overhaul of its business consolidating its ground, express & LTL business units.
- CH Robinson has announced layoffs.
- DHL is shutting down a subsidiary in VA.
- Amazon has announced layoffs.
More layoffs will come once all the holiday online order returns are processed. I would guess by the end of February.
When I see the positive employment data from the general government, but know of all these layoffs it just doesn’t make sense.
But what do I know. I’m not a professionally trained economist. 😁