Recall what we said last month when we “welcomed” Texas to the recession with some 47,043 layoffs through March:
… when broken down by state, things get bad for Texas, very bad. As in recession bad, because with 47K total layoffs, or 10K more than all energy-related layoffs, in just this one state so far in 2015, it means that the energy sector weakness has moved beyond just the oil patch and has spread to the broader economy and related industries in the one state that until recently had the best jobs track record since Lehman.
Fast forward to today when we find that what we thought was bad for Texas with 47K layoff announcements in the highest-paid energy sector, just got far, far worse when in its monthly update earlier today, Challenger announced that just in the month of April another 22,760 jobs were lost in Texas, bringing the total to a whopping 69,803 layoff announcements, and forcing us to literally get a bigger chart so we can accommodate the Texas data.
Everything’s bigger in Texas.
Jade Helm will protect us from Texas zombies.