| Challenger Job-Cut Report | |||||||||
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Highlights
Outsized job cuts in the retail sector inflated Challenger's layoff count for January, at 45,107 vs December's 30,623 and 40,430 in January last year. Retail cuts, driven by what the report says was deep discounting during the holiday season, totaled 11,394 in the month which is 71 percent higher than January 2013. Cuts were also heavy once again in the financial sector, at 4,817 in January, a trend that Challenger expects to extend through the year. Outside of these industries, layoff announcements remain mostly subdued. | |||||||||
| Definition This monthly report counts and categorizes announcements of corporate layoffs based on mass layoff data from state departments of labor. The job-cut report must be analyzed with caution. It doesn't distinguish between layoffs scheduled for the short-term or the long term, or whether job cuts are handled through attrition or actual layoffs. Also, the job-cut report does not include jobs eliminated in small batches over a longer time period. Unlike most economic data, this series is not adjusted for seasonal variation. Source: Econoday | |||||||||
Thursday, 6 February 2014
Retail sector inflated Challenger's layoff count for January, at 45,107
