US: Challenger Job-Cut Report


Thu Mar 08 06:30:00 CST 2018

Actual Previous
Announced Layoffs - Level 35,369 44,653

Highlights
Another low level of layoff announcements, at 35,369 in February, offers confirmation that demand for labor is strong. Watch later this morning for weekly jobless claims which will offer a last look at the labor market going into tomorrow's monthly employment report.

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.