“Lower interest rates reduced our earnings in 2020 and will put pressure on our profitability this year.” After having promised, no layoffs in 2020. But this is 2021.
Corporate cost cutters salivate over working from anywhere. Oh my, the free gourmet cafeteria is gone. Companies already said they’d cut salaries if folks move to cheaper locations.
The cut-off date (Nov. 14) kept much of the hit from the Covid spike out of the data. Then there are the long-term hits to the American job market, such as rampant globalization.
Continued unemployment claims rise for 2nd week, to 29.6 million, worst since Aug 1, meaning 18.4% of labor force is on unemployment insurance. State & federal initial claims jumped to 1.7 million in the week.
