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Challenger Job-Cut Report
Released on 1/7/2009 7:30:00 AM For December, 2008
PriorActual
Announced Layoffs - Level181,671 166,348 

Highlights
There are outside expectations that Friday's employment report will show massive job losses for December, but these calls aren't being supported by Challenger's layoff count for December which totals 166,348, a high total but under November's 181,671. Financial jobs once again were the hardest hit group.

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.  Why Investors Care
 
[Chart] The Challenger Job-Cut Report could serve as a leading indicator for new jobless claims. However, not all layoff announcements result in near term job losses. For instance, companies often announce layoffs that will result in job losses but not immediately. Companies would simply not replace workers who quit voluntarily.
Data Source: Haver Analytics
 

2009 Release Schedule
Released On: 1/72/43/44/15/66/37/18/59/210/111/412/2
Released For: DecJanFebMarAprMayJunJulAugSepOctNov
 



 
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