US: Challenger Job-Cut Report

Thu Jan 04 06:30:00 CST 2018

Actual Previous
Announced Layoffs - Level 32,423 35,038

Challenger's layoff count totaled a modest 32,423 in December in results that underscore the health of the nation's labor market. Full year layoff announcements came to 418,770 vs 526,915 in 2016. Watch for ADP at 8:15 a.m. ET this morning followed by jobless claims at 8:30 a.m. ET for further updates ahead of tomorrow's employment report.

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.