Recent Activity:

• Weekly jobless claims stubbornly refuse to fall, and continue to exceed economists predictions. "1.48 million Americans filed for unemployment benefits in the week ending June 20, exceeding economists’ expectations for 1.32 million. The prior week’s figure was revised higher to 1.54 million from the previously reported 1.51 million claims." Yahoo Finance
• Macy's is laying off 3,900 employees, the bulk of them at the corporate level. Bloomberg
• Qantas Airlines is laying off 6,000 employees - or 20% of its workforce - and does not plan to resume flying for 12 months. Sydney Morning Herald
• New York City mayor Bill de Blasio is considering 22,000 layoffs and furloughs, or 7% of the cities 326,000 employees. Bloomberg
• General Motors plant in in Spring Hill, Tennessee has announced it will layoff 680 employees. News4 Nashville
• HSBC moved forward with plans to layoff 35,000 employees BBC
• Hilton lays off 2,100 employees worldwide. TravelPulse