"Layoff announcements this year top 1.1 million, the most since 2020 when the pandemic hit, according to the Challenger jobs report, which has taken on a bit more significance lately due to the patchy official labour market data in the wake of the US government shutdown. The firm said layoff plans hit 71,321 in November, a down from the huge (22yr high for the month) cuts announced in October...the 1.17mn total is 54% higher than the same 11-month period a year ago"
"ADP this week reported a 32k drop in payrolls. But weekly unemployment claims dropped to a three-year low...what's going on? Partly it's due to the shutdown and some misaligned data. Partly it's the rapidly changing picture of the economy and the labour market as the impact of immigration policy (removing existing and potential supply) and AI (removing demand) affects the distribution."
"Here's one that you cannot trade but worth watching - shares of Moore Threads Technology jumped 400% on debut in Shanghai. Why it matters? The US-blacklisted startup has been dubbed 'China's Nvidia' and seems set to benefit from China's drive to boost domestic manufacturing. Fed watch: Markets now 87% priced for a rate cut next week - soft labour data is the hinge. But it's not entirely clear cut."
Moore Threads Technology shares jumped 400% on their Shanghai debut, signaling strong demand for domestic AI-chip manufacturing amid US blacklisting. Markets are about 87% priced for a Federal Reserve rate cut next week, with soft labour data serving as the key hinge for expectations. Layoff announcements have topped roughly 1.1 million year-to-date, with November cuts unusually high and the 11-month total 54% above last year. ADP reported a 32k payroll decline while weekly unemployment claims fell to three-year lows, a divergence attributed to shutdown-related misalignments, immigration policy impacts, and AI-driven demand shifts. Germany faces a pivotal pensions vote that could unsettle fiscal policy, and Meta plans deep Metaverse spending cuts while continuing to prioritize AI investment.
Read at London Business News | Londonlovesbusiness.com
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