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The Layoffs Are Starting to Show [1]
['This Content Is Not Subject To Review Daily Kos Staff Prior To Publication.']
Date: 2025-05-22
I was looking at the release of unemployment data, and I was thrown off by yet another report showing a good labor market retaining employees. It makes no sense with the amount of layoffs both private and public institutions have been announcing. However, there is a single data point buried in it, but the data point signals there is a large shift in the labor market this month warning of the incoming poor labor market and increased unemployment.
The total number of Americans receiving unemployment benefits for the week of May 10 climbed by 36,000 to 1.9 million. That’s a 5177.78% increase reported on May 10. Let me repeat and let that sink in. People receiving unemployment benefits increased over 5000% as of May 10.
This seems off, as there isn’t a massive overnight increase in the number of new claims showing in the four week average. This to me indicates people have already been let go, and they have been waiting for their firing grace period to end to actually file. As an example, how many federal employees are sitting around waiting to see if they are actually employed or not? Or, how many tech workers were within a grace firing period, but they were unable to find new tech jobs easily with the massive saturation of new and recently let go tech workers, especially software side of it.
If these numbers are correct, that is a dangerous increase, and it’s a signal of the economic shift coming from this administrations choices and policies start rippling through the broader economy and society. It also surprises me no one is reporting this anywhere, and instead if looking at the surface numbers. Am I wrong or missing how this works?
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