#economicdownturn

Goldman Sachs forecasts rising oil prices will impact the US labor market. The bank expects a reduction of 10,000 jobs per month through 2026. This could push the unemployment rate to 4.6% by the third quarter of 2026. Slower hiring, rather than increased layoffs, will be the main driver. Consumer-facing industries, like leisure and hospitality, are most vulnerable.

https://www.storyboard18.com/amp/how-it-works/goldman-sachs-sees-10000-monthly-hit-to-us-job-growth-layoffs-to-edge-up-as-oil-prices-rise-93419.htm

The London Home Builders’ Association warns of significant job losses. Over 60 percent of its members laid off staff last year. Further layoffs are expected in the next six months. The London construction sector lost approximately 5,800 jobs since September. The association urges government action to prevent further economic damage.

London, Ontario

https://ontarioconstructionnews.com/london-homebuilders-warn-of-layoffs-prolonged-slowdown-as-london-market-stalls

Hawaii's economy is sliding toward a mild recession. Job losses are expected across multiple sectors. Economists made this forecast. However, some bright spots exist. These could help soften the economic blow.

https://www.bizjournals.com/pacific/news/2025/12/12/uhero-forecasts-mild-recession-for-hawaii.html

Initial unemployment claims in Arkansas rose last week. The U.S. Department of Labor reported this increase. New jobless claims reached 2,057 for the week ending December 6. This was up from 1,319 claims the prior week. U.S. unemployment claims also increased to 236,000 last week.

https://www.swtimes.com/story/news/2025/12/13/unemployment-numbers/87715873007/

Arizona's unemployment rate increased recently. It reached 4.3% in November. This was a 0.1% rise from September. The state's rate is lower than the national average. It also remains below Arizona's pre-pandemic average.

https://www.azcentral.com/story/money/business/economy/2026/01/08/arizonas-unemployment-rate-up-slightly-reaches-4-3/88072819007/

It's my first job and I'd hate to lose it before I even properly started.

Per latest IDC forecast, the global smartphone market is expected to decline by 13% this year—roughly a drop of 160 million units—driven in part by memory shortages and supply constraints.

Recovery isn’t anticipated until mid-2027, and even then, not to prior peak levels. This report predates the current geopolitical tensions I guess, so a prolonged conflict could lead to an even sharper downturn.

So, overall we're all cooked nicely folks!!

Liberty Home Choices announced its impending closure. More than 600 workers will be laid off. An economic downturn was cited as the reason. The industry struggles with low Medicaid rates. High employee turnover also affects the sector.

Philadelphia, PA

https://www.bizjournals.com/philadelphia/news/2026/03/19/liberty-home-choices-closing-layoffs-warn.html

Riddle me this:

Will Fiserv ever have the brains to permit WFH with exorbitant fuel costs that are imminent?

Seriously, we were able to work 2.5 years from home with little issue. For those of us who live further away from the office and still drive in, the cost of commuting makes zero sense during these uncertain times.

Americans are cutting back on spending due to rising gas prices. Gas prices are approaching $4 a gallon after the Iran war. Economists predict sustained price increases could strain household budgets. Despite these pressures, U.S. unemployment benefit applications decreased last week. New jobless claims fell to 205,000, below expert forecasts.

https://www.businessreport.com/article/roundup-the-squeeze-begins-layoffs-not-yet-baton-rouge-built

The Algorand Foundation laid off 25% of its staff. This decision stems from the crypto market's decline and economic uncertainty. The organization stated it was an incredibly tough decision for them. It aims for a more sustainable alignment of resources with its priorities. The foundation remains focused on protocol development and ecosystem growth.

https://finance.yahoo.com/news/algorand-foundation-cuts-25-staff-210002272.html

is an easy 35 percent down from here

I think it’s time for the fed to stop doing business with XRX hopefully putting SB, the EC, and the company out of their respective misery. We have sent so many jobs offshore that there should be a penalty.

Oregon's average private-sector workweek recently dropped below 33 hours. This marks the shortest workweek in the state since 2010. Economists view this as a sign of slack in the labor market. Recent layoffs and policy changes contributed to the reduction in hours. State forecasters will monitor these trends for future economic updates.

https://hoodline.com/2026/03/oregon-workweek-hits-lowest-level-since-2010-as-hours-shrink/

Initial unemployment claims in California decreased last week. The U.S. Department of Labor reported this data. New jobless claims dropped to 42,065 for the week ending February 28. This figure was lower than the 42,563 reported the previous week. Nationally, U.S. unemployment claims held steady at 213,000.

https://www.redding.com/story/news/2026/03/08/unemployment-numbers/88998587007/

First Brands announced 600 job cuts at its Brownsville auto parts plant. These layoffs are part of a larger reduction of nearly 2,000 workers across its facilities. The company is experiencing an ongoing financial crisis. Despite these losses, Rio Grande Valley leaders express economic optimism. They highlight growth in AI, new technology, and port expansion.

Brownsville, Texas

https://www.kxan.com/border-report/rio-grande-valley-leaders-upbeat-about-economy-despite-maquiladora-layoffs/

CEOs are increasingly implementing job cuts. Economic uncertainty and cost reduction are primary drivers. January saw the highest number of corporate layoffs since 2009. Wall Street often rewards companies that announce staff reductions. Some leaders also cite AI-driven efficiencies for workforce changes.

https://www.businessinsider.com/ceos-make-job-cuts-worries-about-economy-and-ai-impacts-2026-3

chat are we cooked??

Seattle business leaders have issued a warning. They are concerned about artificial intelligence. Technology sector layoffs are also a factor. These elements are causing an economic shift. Local leaders are observing these developments.

https://www.fox13seattle.com/video/fmc-ct0uwlxr8z2xwzvl

From where I sit in the company. I see lots of customers leaving and almost zero new ones

With that evidence and the currency headwind with the stronger dollar and the fact we made last quarters numbers with two lucky unexpected last minute deals, I believe we will miss earnings on April 29

Stock then will drop to 15

This wave of AI-driven transformation only makes a small group of capitalists richer, while the majority of others may end up being harmed.

I’m hearing Q1 is not good

A Foods Co. grocery store in south Sacramento will close. This permanent closure will lay off 58 employees. The store on Gerber Road is set to close March 14. The company cited business and economic reasons for this action. Another Foods Co. location in Fresno will also close on the same day.

https://www.sacbee.com/news/local/article314909051.html

https://www.advisorhub.com/layoffs-hit-citi-jpmorgan-wells-fargo-and-lpl/

Seattle's tech sector is experiencing a significant slowdown. Layoffs are impacting many companies in the region. This shift affects local businesses and the broader economy. The situation is not limited to a single employer. Seattle's previous mood of constant hiring has changed.

https://www.msn.com/en-us/money/careersandeducation/seattle-layoffs-are-turning-into-a-bigger-local-slowdown-story/ss-AA1WTRUX?ocid=overlayclose

The global container shipping industry is at a pivotal moment. After years of prosperity fueled by pandemic-era logistical disruptions, the so-called “golden age” is drawing to a close and the impact is already being felt by industry giants like Maersk. The Danish shipping company recently announced a workforce reduction of over 1,000 employees, following a challenging 2025, signaling a shift towards a novel phase characterized by fleet overcapacity, declining freight rates, and the need for structural adjustments.

https://www.world-today-journal.com/maersk-layoffs-1000-jobs-cut-after-2025-losses-shipping-industry-downturn/

UK unemployment reached 5.2%, a five-year high. The retail sector lost 74,000 jobs year-on-year. Businesses attribute these job losses to higher labor costs. Increased National Insurance contributions and minimum wage hikes impacted hiring. Younger workers and consumer-facing businesses are most affected.

https://internetretailing.net/retail-layoffs-mount-as-uk-unemployment-climbs-to-five-year-peak/

UK

If you do the math, look at the earnings of recent quarters, then you realise it really is only a matter of time……..

So far in 2025, layoffs and discharges total 102,000 in Rhode Island, which is 36% higher than the same period in 2024.

https://usafacts.org/answers/how-many-people-are-laid-off-each-month/state/rhode-island/

New unemployment claims in Washington ticked up last week, according to the U.S. Department of Labor. Initial filings climbed to 6,643 for the week ending Feb. 7, compared with 6,294 the week before.

https://www.msn.com/en-us/money/markets/unemployment-claims-in-washington-increased-last-week/ar-AA1WjUaV

Oregon's small business bankruptcies reached a 12-year high in 2025. Approximately 250 businesses filed for bankruptcy protection statewide. This surge reflects a national trend driven by higher interest rates and rising costs. Layoffs at large employers like Intel and Nike also affected the local economy. Smaller firms and nonprofits face financial stress, including unpaid invoices.

https://hoodline.com/2026/02/layoffs-pile-up-as-portland-biz-bankruptcies-soar-to-12-year-high/

Went as low as $0.90. This is bleak.

New Jersey experienced a significant increase in job cuts during January. Employers announced 1,980 layoffs, a 544 percent rise from January 2025. This surge mirrors national trends not seen since the Great Recession. Amazon accounted for 871 of New Jersey's January cuts. Experts indicate employers are less optimistic about the 2026 outlook.

https://patch.com/new-jersey/across-nj/job-cuts-spiking-nj-national-layoffs-mirror-great-recession-totals

Michigan's initial unemployment claims dropped last week. Filings fell to 8,535 in the week ending January 24. This was down from 16,776 the previous week. U.S. unemployment claims also saw a slight decrease. They dropped to 209,000 nationally.

https://www.aol.com/articles/unemployment-claims-michigan-declined-last-080100923.html

North Carolina saw an increase in initial unemployment claims last week. The U.S. Department of Labor reported this data. Claims rose to 3,404 for the week ending January 31. This was up from 3,294 claims the previous week. National unemployment claims also increased last week.

https://www.fayobserver.com/story/news/2026/02/07/unemployment-numbers/88527060007/

Louisiana saw a drop in initial jobless claims last week. The U.S. Department of Labor released this information. New claims totaled 1,107 for the week. This number was lower than 1,400 from the prior week. National unemployment claims increased to 231,000.

https://www.theadvertiser.com/story/news/2026/02/06/unemployment-numbers/88526921007/

Tough times are ahead because of H1Bs + AI + work going offshore.

So, sell your home(s), and stock(s) (if they are in profit) and keep cash to survive the tough time.

In January 2026, U.S. employers announced 108,435 job cuts, the highest total for the first month of the year since 2009. This surge represents a 118% increase compared to January 2025 and a 205% jump from December 2025.
Primary Drivers: Massive restructuring at UPS (30,000 cuts) and Amazon (16,000 corporate roles) accounted for nearly half of the month's total layoffs.
Sector Impact: The hardest-hit industries included Transportation (31,243), Technology (22,291), and Healthcare (17,107).
Hiring Stagnation: Parallel to the cuts, hiring plans dropped to just 5,306, the lowest January figure on record since tracking began in 2009.
Leading Causes: According to the Challenger Report, the top reasons cited were contract losses, economic conditions, and organizational restructuring. - All companies are on the same path.

• U.S. employers announced 108,435 layoffs for the month, up 118% from the same period a year ago and 205% from December 2025. The total marked the highest for any January since 2009.
• At the same time, companies announced just 5,306 new hires, also the lowest January since 2009, which is when Challenger, Gray & Christmas began tracking such data.
• Also, job openings fell sharply in December to 6.54 million, to their lowest since September 2020. Available jobs are down by more than 900,000 just since October.

https://www.cnbc.com/2026/02/05/layoff-and-hiring-announcements-hit-their-worst-january-levels-since-2009-challenger-says.html

Initial unemployment benefit filings in South Carolina decreased last week. The U.S. Labor Department reported this data on Thursday. New jobless claims in the state fell to 1,970. This was down from 4,170 claims the previous week.

https://www.blufftontoday.com/story/news/2026/01/31/unemployment-numbers/88413633007/