US: Challenger Job-Cut Report


Thu Aug 06 06:30:00 CDT 2015

Actual Previous
Announced Layoffs - Level 105,696 44,842

Highlights
A major Army cutback made for an outsized 105,696 layoff count in July. The Army said it is cutting 57,000 jobs over the next two years (note that Challenger counts layoffs at the time of announcement, not when layoffs actually occur). Heavy layoffs, at 18,891, were also announced in computer & electronics.

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.



Description
The job-cut report is basically a rehash of the weekly jobless claims report but provides additional insight into where layoffs are occurring. There is industry and geographic (states) detail that is not available with weekly jobless claims.