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Job cuts soar 218% in January

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 Cinnamon    14,436

anuary brought snow and pink slips for many Americans.

Job cuts soared 218% in January, according to career placement firm Challenger, Gray & Christmas. Layoffs were particularly heavy for people working at energy and retail companies.

In total, American employers announced 75,114 cuts last month, according to Challenger. It was a big jump from December when under 24,000 layoffs were announced.

Walmart (WMT) and Macy's (M) are closing stores and letting workers go as they try to compete with the heavy rise in online shopping. Walmart alone announced it will shut 269 storesworldwide, potentially putting up to 10,000 U.S. workers out of jobs.

America's energy boom is creating its own problems. It's caused a global oil glut, sending prices tumbling from over $100 in the summer of 2014 to $30 now.

Some oil firms are already going bankrupt. Those that are surviving like Halliburton (HAL) are slashing costs and workers.



This article is from Feb. 4th, 2016. I don't know how I missed this! We're in trouble people, big trouble!  Nothing has changed since then. How the government can declare that unemployment is below 5 percent is way beyond me! Liars all the time. If they shut up, that is the only way they'd stop lying to us. Check out the Daily Job Cuts thread, it really tells a lot about what is happening, too. 


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Christmas is over, don't need those temps anymore o.o Why any politician brags, or any person buys, "job growth numbers" from Halloween to New Years is a dunce >.> Just like stocks always fall between Thanksgiving and Christmas as those that spent too much have to drop their paper to too big to fail. Which is why if you play the stock market, you're a dunce as well. o.o Like a mob poker game, the action is real, but you ain't in on it, and no matter who wins, it surely won't be John Q. Public. 

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Economy is, always has been,  and always will be regional.  The Walmart layoffs are worldwide,  here in the states they'll lay off both cashiers.  If walmart closed every door,  I wouldn't care. Depending on the stock market and the overall "economy" to make money gives more control over your life to the whims of others.  No one is going to take care of you the way you can and should.  The "gubmint", and it's puppet masters have no power over you that you don't cede to them.

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 YourMom2    1,270

Everybody loved going to The Mall. In the land of disposable income, life was good. Then mail order catalogs reinvented themselves as virtual malls on the internet and convenience was good. Then price became the most important factor in the land of dwindling income.

Now the 25% unemployed that have the time to shop and take advantage of competitive pricing don't have the money.

Hedge accordingly.

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