More evidence that BLS birth-death data for May was mostly just BS.
-“The Labor Department said the number of mass layoff actions – defined as job cuts involving at least 50 people from a single employer – increased to 2,933 in May from 2,712 in April, resulting in the loss of 312,880 jobs.
It was the largest loss of jobs connected to mass layoffs on records dating to 1995.”
I just find it hard to believe that job cuts are slowing when large layoffs are increasing. I suppose you could argue that small buisness are pickup up the slack, creating jobs while bigger buisness are cutting, but I kinda doubt it. Not in the biggest downturn since the depression, and when credit, the life blood of most small buisness, is disapearing.
