US: Challenger Job-Cut Report

Thu Mar 09 06:30:00 CST 2017

Actual Previous
Announced Layoffs - Level 36,957 45,934

Challenger's layoff count remains low and favorable, at 36,957 in February and right in line with trend. Layoffs in retail are often high following the holidays and they lead the list for the second straight month. Layoffs in energy follow in February's rundown.

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.

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.