The rapid rate at which auto layoffs are rising suggest a spillover into the broader economy. Challenger, Gray and Christmas notes that the almost 20,000 announced layoffs in the first four months of the year were up 207% over the same period of 2018. “Job cuts in this sector are likely to continue, especially with the implementation of additional tariffs on Chinese goods,” Andrew Challenger, the firm’s vice president, wrote in a report. “Automakers and suppliers will feel the pressure, which may lead to more cuts.”
https://www.newsmax.com/finance/daniellebooth/fed-help-autos-housing/2019/06/06/id/919205/
