Tesla, Citigroup, and Dell have collectively cut 50,000 jobs, while trucking giant Yellow, with 12,000 trucks, has collapsed. This trend suggests a significant deterioration in employment, as historically, whenever unemployment rates exceed the 2-year moving average, a rapid increase in unemployment follows.
Tesla has cut 15000 jobs, Citigroup cuts 20,000 jobs, Dell Computers cut 15000 jobs.
Yellow, the trucking giant with 12000 trucks collapsed
— Mach (@MachM6) May 4, 2024
Unemployment builds slowly at first and then rapidly.
Every time unemployment rates > 2y ma, a significant deterioration has followed.
via @TaviCosta pic.twitter.com/fbpGa7K37I
— AnilVohra1962 🇬🇧🇨🇦 (@AnilVohra1962) May 5, 2024