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Challenger Job-Cut Report
Released On 2/4/2009 7:30:00 AM For January, 2009
PriorActual
Announced Layoffs - Level166,348 241,749 

Highlights
Company layoff announcements were unusually heavy in January, indicating that the shock to the labor force is increasing in intensity and pointing to severely depressed readings in Friday's employment report. Challenger's layoff count totaled 241,749 vs. 166,348 in December. The total is the highest since the end of the last recession. Layoffs in January last year, right when the recession was beginning, were only 74,986. Retail and industrial goods, two sectors hit extremely hard by this recession, showed the heaviest losses. The report also counts hiring intentions which were up due to government openings, a theme that is likely to emerge in the months ahead.

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
Release For: DecJanFebMarAprMayJunJulAugSepOctNov
 


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