Ironically, this came out on the day in which the BLS presenting some more amusing "data" suggesting that only 268K workers filed initial claims in the past week, one of the lowest numbers of the second great depression.

Which is great for political propaganda purposes, however, for an accurate perspective we decided to look at a provider of job data that is actually representative of what happens in the real world not some goalseeked Arima-X-12 spreadsheet.

Here is what Challenger Gray found when looking at the latest monthly data:

Through the first quarter of 2014, employers announced 140,214 job cuts, up 15.6 percent from the 120,341 cuts tracked the first three months of 2014. The first quarter saw 17 percent more job cuts than in the final quarter of 2014, when 119,763 job cuts were recorded.