Tag Archives: layoffs

OK, Tesla isn’t Bitcoin and it isn’t Trump’s Pravda Social, but: “Tesla announced to Gigafactory Texas employees that it will shorten Cybertruck production shift amid rumors that it is preparing a round of layoffs.“We received several reports today from Tesla employees hearing rumors of an important round of layoffs happening this week at the company.“Some of them are talking about layoffs as high as 20% of the workforce, which would mean tens of...

Initial claims: nobody is getting laid off, but slight weakness in continuing claims compared with 2022  – by New Deal democrat Initial claims remained below 200,000 at 195,000, while the 4 week average increased very slightly to 189,500. Continuing claims increased to 1,696,000, the third highest number in over a year: Holiday seasonality has ended. It continues to be the case that almost nobody is getting laid off. Very slightly on the...

Production, layoffs, housing hit the positive trifecta in November, New Deal democrat We got a blizzard of November and December data this morning across all three – coincident, short leading, and long leading – timeframes: industrial production, jobless claims, and housing permits and starts. All three were positive. Let’s start with the King of Coincident Indicators, industrial production, which rose 0.5% in November. Manufacturing production...

Nobody is getting laid off: the continuing saga  Initial claims declined another 1,000 this week to 268,000, and the 4 week average declined 5,250 to 272,750, both – yet again – new pandemic lows: For the past 50 years, initial claims have only been at these levels for 2 months at the peak of the late 1990’s tech boom, and from late 2015 to just before the pandemic in 2020.’ Continuing claims also declined 129,000 to a new pandemic low...