Strong September Jobs Number Hides Weakness at Large Companies Friday’s better-than-expected jobs report (+336,000) may not reflect the reality

Bankruptcy
Written By Hans Riefkohl

Strong September Jobs Number Hides Weakness at Large Companies Friday’s better-than-expected jobs report (+336,000) may not reflect the reality

big companies, according to an ADP report highlighted in today’s WSJ. According to the report, large companies cut 83,000 jobs in

September, and 150,000 since January. The note also links the pain suffered by large companies with the increase in big and “mega” chapter 11 filings this year, and notes that “[w]hile any type of bankruptcy signals distress, large-business bankruptcies carry particularly significant economic risks.” According to Steven Blitz, chief U.S. economist at GlobalData TS Lombard, more bankruptcies, along with a weakening stock market and rising credit-card delinquencies, suggest the U.S. economy is heading for a recession.

Hans Riefkohl
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