#Economy & #Stocks Review - Layoffs Accelerating

E&S Review

Much of today's economic data, including officially collected and produced time series, is highly unreliable. Statisticians use well-documented techniques such as geometric smoothing, seasonal adjustments, substitution, double counting, and hedonic adjustments to modify economic outcomes dating back to the 1980s. Politicians and central bankers often leverage these techniques for political gain.

Data manipulated by these statistical methods are frequently revised without clear notification to the public, especially when administrations or public policies change.

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Layoffs Accelerating

ExxonMobil announced plans to lay off 2,000 employees, or about 4% of its global workforce, as part of a broader effort to streamline operations and consolidate offices into regional hubs. The cuts will not affect U.S. jobs but include layoffs from Canadian subsidiary Imperial Oil. This move reflects a wider trend among major oil companies like ConocoPhillips and Chevron, which are downsizing in response to low oil prices, limited investment opportunities, and global market instability. Industry leaders are increasingly pessimistic about the sector’s future, citing consolidation and job losses as signs of deeper structural challenges.

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