Everybody looks at Job data released by government. But nobody thinks of job-loss which can be equated with $60 Trillion loss. I have just posted an example for how much is the $60 Trillion worth to the world economy.I think only 1000 million or 1 billion people have jobs worldwide. If 500 million jobs are lost it's end of world economy.
Average hours worked is way down: 33. Dead-nuts negative that indicates many more layoffs to come. 1st step is to cut employee hours. When that fails, employees get shitcanned. GET THE HELL OUT.
Paper losses do influence public co's layoff plans. It wipes out profits, paper off the books, reduces the companies "Net Worth", if the company is Leveraged, it will effect their lending options. There is a direct correlation between stock prices and growth with in their 'Hiring". The bottom line for public companies, is their 'accounting'. If they can add more value to their "Books", after they loose value due to stock plunge, they lighten the load of expenses. First to go, the workers. Thus, pushing up the EPS. Private Industry does not work that way. They will keep their employees for as long as they can, cut back on other areas. Private Industry does not answer to "Shareholders". Public Co. is owned by the "Public" that invest in it. EPS are their only concern. And workers at such companies need to understand that they are nothing but a tool, a means to the end and they are easly disgarded.
I'm grateful to have taken the path to be a trader over the path many of my friends took after school in I-banking. I don't look so foolish now. No one can lay me off.