America’s Biggest Companies Are Slashing Jobs At The Fastest Rate Since The Financial Crisis

America’s Biggest Companies Are Slashing Jobs At The Fastest Rate Since The Financial Crisis

Just last week, Americans were reassured (twice) that everything is awesome in the US labor market as ADP and BLS data showed jobs-jobs-jobs everywhere. However, along with wage stagnation (and a rising unemployment rate), there is a bigger problem, as Deutsche Bank warns, aside from soft earnings, hiring at America’s biggest companies is slowing down for the first time since 2010.

Casting some serious doubt on just how strong the hiring environment is, Yahoo’s Myles Udland notes that Deutsche Bank illustrates that employment at big US companies is plunging for the first time since the recession.

Notably, S&P 500 companies account for less than 20% of total US employment, but despite President Trump’s pro-business perspective, policy uncertainty seems to be weighing on big firms…

ZeroHedge

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