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The Numbers Are Screaming That A Giant Tsunami Of U.S. Layoffs Has Now Begun

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We knew that economic conditions were deteriorating, but this is getting ridiculous.  According to Challenger, Gray & Christmas, the number of layoffs in November was 127 percent higher than it was in October.  That isn’t just a trend, that is an avalanche.  And compared to the same month in 2021, the number of layoffs in November was 417 percent higher.  Please take a moment and let that figure sink in.  A 417 percent increase is a colossal shift.  Essentially, these numbers are telling us that a giant tsunami of U.S. layoffs has now begun, and I believe that things will get even worse in 2023 and beyond.  Our leaders have pursued policies that have been extremely destructive to the U.S. economy, and many of us have been warning that a day of reckoning would arrive.  Well, it appears that a day of reckoning for America’s workers is now here, and the months ahead are not going to be pretty.

There is no way to spin these numbers to make them look good.  Major layoff announcements are popping up in the news every single day, and what we have witnessed over the past several weeks is nothing short of staggering

And these numbers don’t even include the latest layoffs that have just happened.

As our new housing crash continues to accelerate, Wells Fargo has decided that now is the time to lay off “hundreds more mortgage employees”

Normally, big companies would be compassionate enough to at least wait until after the holiday season to let people go.

But now times have changed and a lot of these large firms are really feeling a sense of urgency to reduce payrolls.

Shockingly, that even includes FedEx

Have you ever heard of FedEx getting rid of workers prior to the holidays before?

I haven’t either.

This is nuts.

If we are seeing this many layoffs now, what will things look like once the holidays are over?

At this point, even the Federal Reserve is admitting that more layoffs are coming.  In fact, Fed officials are now estimating that about a million Americans will lose their jobs by the end of 2023

Of course Fed projections are almost always way too optimistic.

If Fed projections were accurate, we would still be in a low inflation environment right now.

Let’s be honest.  If we get to next December and only a million Americans have lost their jobs, we should have a massive national celebration because that would definitely represent the sort of “soft landing” that Jerome Powell has been hoping for.

Needless to say, that sort of wildly optimistic scenario is not likely to play out.

As I discussed a few days ago, 41 percent of all small business owners in America could not pay rent in the month of November.

When more than four out of every 10 small businesses cannot even pay rent, your economy is in serious trouble.

I warned that we would soon be facing a severe downturn if the Fed kept aggressively hiking interest rates, and many others issued similar warnings.

But the Fed didn’t listen to any of us.

In fact, Fed officials keep telling us that rates are going to go even higher.

So what will their excuse be when the economy completely crashes?

Just like SBF, perhaps they will tell us that they are “deeply sorry about what happened”.

But will the millions of Americans that will soon lose their jobs be in any mood to accept such apologies?

Losing a good paying job that you absolutely love can be absolutely devastating.

Sadly, countless Americans are going to have to endure the sudden loss of a job in the months ahead, and no amount of babbling from our leaders will make the pain go away.

***It is finally here! Michael’s new book entitled “End Times” is now available in paperback and for the Kindle on Amazon.***

About the Author: My name is Michael and my brand new book entitled “End Times” is now available on Amazon.com.  In addition to my new book I have written six other books that are available on Amazon.com including “7 Year Apocalypse”“Lost Prophecies Of The Future Of America”“The Beginning Of The End”, and “Living A Life That Really Matters”. (#CommissionsEarned)  When you purchase any of these books you help to support the work that I am doing, and one way that you can really help is by sending copies as gifts to family and friends.  Time is short, and I need help getting these warnings into the hands of as many people as possible.  I have published thousands of articles on The Economic Collapse BlogEnd Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe.  I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article.  The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions.  I encourage you to follow me on social media on Facebook and Twitter, and any way that you can share these articles with others is definitely a great help.  These are such troubled times, and people need hope.  John 3:16 tells us about the hope that God has given us through Jesus Christ: “For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life.”  If you have not already done so, I strongly urge you to invite Jesus Christ to be your Lord and Savior today.

The post The Numbers Are Screaming That A Giant Tsunami Of U.S. Layoffs Has Now Begun appeared first on The Economic Collapse.

Michael Snyder is the publisher of The Economic Collapse Blog, The American Dream Blog and The Truth. You can follow him on Twitter right here.


Source: http://theeconomiccollapseblog.com/the-numbers-are-screaming-that-a-giant-tsunami-of-u-s-layoffs-has-now-begun/


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