In today's @Markets newsletter, I wrote about permanent layoffs, which are surging faster than at the start of the Great Financial Crisis.
1.6 million permanent layoffs in 4 months. Last time it took 11 months. bloomberg.com/news/newslette…
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If you exclude ALL the layoffs currently characterized as temporary, and just look at the fraction of job losses characterized as permanent, we're already on a worse trajectory than the GFC calculatedriskblog.com/2020/07/by-req…
![](https://pbs.twimg.com/media/EcQ848OXsAYRDPZ.jpg)