The Economic Decline: Weekend of November 4, 2016

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94,609,000 NOT IN LABOR FORCE; PARTICIPATION RATE DROPS TO 62.8%
In its final report before next week’s presidential election, the Bureau of Labor Statistics said on Friday that 94,609,000 Americans are not in the labor force, 425,000 more than last month’s 94,184,000, and the second highest number on record… (Continue to full article)

WALL STREET JOURNAL BEGINS LAYOFFS, CUTS SECTIONS
The Wall Street Journal will launch a new format for the newspaper with fewer sections on Nov. 14, and has begun laying off employees as part of an effort to cut costs, according to two memos reviewed by Reuters on Wednesday… (Continue to full article)

CVS ANNOUNCES HUNDREDS OF LAYOFFS
Hundreds of CVS Health employees in Rhode Island and several other states learned Thursday they no longer have a job… (Continue to full article)

REUTERS TO CUT 2,000 JOBS
Will lay off about 2,000 workers, and sustain a charge of up to $250 million in the current quarter, connected to a “transformation” of its business… (Continue to full article)

ING TO CUT 7,000 JOBS
To shed 7,000 jobs and invest in its digital platforms to make annual savings of $1 billion by 2021… (Continue to full article)

CABLE RATES HAVE RISEN AT DOUBLE INFLATION RATE FOR 20 YEARS
Average US inflation since 1995 has been steady at around 2.2%. But during that same period, cable TV prices have increased by 5.8% per year on average… (Continue to full article)

Wall St Plan To Acquire Retiree Savings
Hillary Clinton Economic Team planned secret meeting with Wall Street mogul pushing to shift retiree savings to financial firms… (Continue to full article)

US Auto Repossessions On the Rise
As the Financial Times recently pointed out, auto repossessions in the US are soaring and, with the exception of the “great recession” in 2008 and 2009, stand at the highest levels recorded in 20 years. … (Continue to full article)

3rd Consecutive Quarter of Weak Productivity
US Nonfarm Business Sector Output Per Hour Of All Persons YoY was just released for Q3 2016. It printed at … (drumroll) … 0% YoY. That is the third consecutive quarter of negative or zero growth YoY for Nonfarm productivity…. (Continue to full article)

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