Employment

/Tag:Employment

Monkey Business – Expert Says Affordable Homes Are Going Away

Affordable homes are going away. With the prospect of rising rates, now is the time to buy a home. That is apparently the opinion of Dr. Luis Torres, a research economist with the Real Estate Center at Texas A&M. Torres, in a rather interesting piece in the Houston Business Journal seems to be confident that Houston's real estate market is on the road to recovery:  “I can say this with some certainty that the worst of the downturn is behind us.” I'm not surprised that HBJ would print a piece like this (after all it is [...]

Challenger Gray: Q1 Job Cuts Up 31 Percent YoY, Texas Leads All States By Wide Margin

While many of the pundits here in the Houston are will point to the diversification of the Bayou City, I remain skeptical of the GHP's claim that Houston will add 22,000 jobs by the end of the year. As I detailed in a recent post on Houston area employment, things may get worse in the Houston job market before they get better. Challenger Gray's report on first quarter  2016 job cuts only confirms my suspicions. Q1 2016 job cuts are 31 percent higher than they were a year ago, and we just witnessed the 4th [...]

By | 2016-04-01T11:28:30+00:00 March 31st, 2016|Economy, In the Press, Spin Cycle, Texas Employment|0 Comments

Texas Layoffs Surge In January, More Job Cut Announcements To Come

The latest job cut numbers from Challenger Gray should give pause to those who have been calling a bottom to the recent downturn for the energy sector. Not only did Texas blow all other states out of the water in terms of job cut announcements in January, the YTD layoffs in 2016 point to an accelerating downturn. Challenger noted that the 75,114 job cut announcements for January 2016 was 42 percent higher than a year ago, and the largest January total since 2009. The "lower for longer" theme for energy prices is finally beginning to [...]

BLS: August Unemployment Rate Drops To 5.1% As 94 Million Americans Not In The Labor Force

There's no BS like the BLS. When it comes to meaningless headline data, the official U.S. unemployment rate is about as misleading as you can get. Today the August employment report from the Bureau of Labor and Statistics told us that the unemployment rate dropped to 5.1%. Of course the reality is while apparently added 173,000 jobs in August, the real reason the official unemployment rate dropped is because more people were vaporized from the labor force. As noted in the graphic above graciously provided by Professor Anthony Sanders, the U.S. labor force participation rate dropped [...]

By | 2016-09-29T21:37:22+00:00 September 4th, 2015|Economy, Markets, Spin Cycle, Texas Employment|0 Comments

July Job Cuts Reach Highest Level In 4 Years, Texas Still Leads Nation By Wide Margin In 2015

Challenger Gray & Christmas released their July job cut report, and it appears employment cutbacks revved up again during the month of July. Challenger reports there were 105,696 job cuts in July, the highest one-month total in 4 years. What was surprising in the latest report was that more than half of the July cuts came from the U.S. Army via troop and civilian workforce reductions. What's not surprising in the latest report is that Texas still leads the nation for layoffs this year by a wide margin. With oil prices flirting with a new [...]

By | 2015-08-06T14:00:14+00:00 August 6th, 2015|Economy, Energy & Utilities, Spin Cycle, Texas Employment|0 Comments

Dallas Fed Manufacturing Index Contracts Further In May, Texas Recession Ahead?

The Dallas Fed reported some rather troubling numbers for the Lone Star State today. Manufacturing activity in Texas continues to free fall with the May survey results. Here are the highlights from the May Texas Manufacturing Outlook Survey... General Business Activity Index: Down again to -20.8 Production Index: Down to -13.5, (lowest reading in 6 years) New Orders Index: Flat at -14.1 Growth Rate of Orders Index: Flat at -15.2 Capacity Utilization Index: Down to -11.6 Shipments Index: Down to -13.2 Employment Index: Down to -8.2 Hours Worked Index: Down to -11.6 But never fear. [...]

Dallas Fed: Texas Manufacturing Activity Weakens Again In April As Texas Rig Count Drops 56 Percent YoY

LOL! So much for the spin of low oil prices being good for the Texas economy. The Dallas Fed just reported that Texas manufacturing activity continued to contract in April, with Texas manufacturing activity remaining in negative territory for the 2nd consecutive month. I imagine that negative manufacturing index is ever so slightly related to the 56 percent year-over-year drop in the Texas rig count posted last Friday. It certainly isn't helping the Texas employment sector, with employment in the state dropping at the fastest rate in six years. Here are some of the readings from [...]

By | 2016-05-21T12:07:02+00:00 April 27th, 2015|Economy, Energy & Utilities, In the Press, Spin Cycle|0 Comments

Texas Employment Decreases By 25,400 Jobs In March In First Employment Decline Since 2009

You knew it was only a matter of time, but the 53-month streak of successive employment gains for Texas ended in March. The Texas Workforce Commission reported that Texas shed 25,400 jobs in March in what was the first employment decline since 2009. With the Texas rig count down 53 percent year-over year, this announcement was inevitable. Contrary to what many economists have tried to downplay, the huge loss of jobs seen in the energy sector also affects other employment that is marginally attached to all of that economic stimulus resulting from the recent energy [...]

By | 2015-04-19T12:17:24+00:00 April 19th, 2015|Economy, Energy & Utilities, Markets, Texas Employment|0 Comments

Illusion Of Full Employment And The Changing Workforce

The U.S. economy has continued to add jobs during the last few years, driving down unemployment rate to levels which would normally be indicative of a robust economy. We'll see another indicator of our progress tomorrow with the November employment report. The consecutive monthly run in employment gains is one of the longest on record. That's what makes the tepid recovery in the real economy so difficult for some to grasp. The rate of homeownership in the U.S. has continued to decline during the last few years, and wage growth has continued to falter as [...]

Market Basket Walkout Succeeds – The Power Of Action And Organization

The story of Market Basket and Arthur T. Demoulas is a testament to the power of organization and action. There have been few examples of organized labor actually making any headway in this economy, but what has happened at this Massachusetts-based grocery chain is a breath of fresh air. Market Basket was embroiled in a family dispute over management, and its beloved CEO Arthur T. Demoulas was fired by the company's board for basically refusing to put the bottom line ahead of the fair treatment of his employees. ADT as he is known by many [...]

By | 2014-08-28T18:24:24+00:00 August 28th, 2014|Economy, Texas Employment|0 Comments