Jobs Prelude Mixed.

Challenger Job-Cut Report (April 2015)

– Announced Layoffs  61,582. Previous was 36,594.

Both the spike and now the drop in jobs are significantly affected by the decline in operating oil wells.  On May 1 there were 905 operating oil rigs in the U.S.  A year before there were 1,854.  With oil prices having moved up this decline will stop and reverse. Oil is one of those industries which create a lot of demand for other products and services.

 
Initial Jobless Claims (week ended 5/2/2015)

– New Claims  265,000. Previous was 262,000
– 4-week Moving Average  279,500. Previous was 283,750.

 
Gallup US Payroll to Population  (April 2015)

– level  43.9. Previous was  44.1.

If this is accurate it should translate into an increase in the Labor Participation Rate in tomorrow’s BLS Employment Situation Report.