Rather than repeat the same ominous stuff as everyone else about the horrible February employment data, I thought it would be more interesting to take a look forward with some interesting data. Courtesy of First Rain, here are some charts showing that, according to their data, the pace of layoff announcements has slowed.
Here is the monthly trend, showing the tailing off in February.
And here is the weekly data, which shows something similar.(Click for a larger version.)
Is this the turn in the trend? Who knows. And given that this is tracking stories about layoffs, rather than than layoffs themselves, it could be partly driven by media getting bored of the layoff subject. Nevertheless, given all the one-sided commentary out there ("staring into the abyss", etc.), it’s at least worth considering the possibility of an eventual turn in the U.S. employment numbers.