Global Businesses Deepen May Job Cuts as S&P Global Flags Unusual PMI Weakness
Updated
Updated · Seeking Alpha · Jun 12
Global Businesses Deepen May Job Cuts as S&P Global Flags Unusual PMI Weakness
1 articles · Updated · Seeking Alpha · Jun 12
Summary
May PMI surveys showed worldwide job cutting intensified, with S&P Global reporting a broad-based deterioration in hiring across major economies.
S&P Global linked the pullback to a darkening business outlook and rising costs, which pushed companies to trim staff despite still-growing order books.
That combination makes the current pace of layoffs unusual, suggesting firms are turning more cautious even before demand contracts outright.
The May data points to a wider labor-market softening risk if weaker sentiment and cost pressure continue to spread across global businesses.