Job Cuts From Bankruptcy Surpass The Great Recession, 2019 Was The 4th Highest Overall Job Cuts (Video)
Job Cuts From Bankruptcy Surpass The Great Recession, 2019 Was The 4th Highest Overall Job Cuts Video by Silver Report
First, we look at the job cuts data from Challenger, Gray, and Christmas which reveals 2019 was the fourth-highest level of job cuts since the financial crisis of 2008. Job cuts as a result of bankruptcy have now surpassed the levels we saw during the great recession. We have reached a level of job cuts from firms going bankrupt since 2005. The only other years that surpassed 2019 in overall job cuts were 2009, 2011, and 2015.
Still, they keep telling us this is the greatest economy ever while the economic data points to recession level job cuts. Most of the results have been heavily weighed by the many bankrupt retailers due to slowing economic activity. 2019 was only the beginning of this maturing bond wall coming due over the next few years we have only just begun to see the job cuts.