Econoday Economic Report: Challenger Job-Cut Report November 4, 2009

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Challenger Job-Cut Report

Released On 11/4/2009 7:30:00 AM For October, 2009

	Prior	Actual
Announced Layoffs - Level	66,404	55,679

Highlights
Challenger's count of layoff announcements is a positive for Friday's employment report. The October count fell to 55,679 vs. 66,404 in September for the lowest total since March last year. A look at October 2008, when 112,884 layoffs were announced, offers a handle on how much improvement there has been. ADP's payroll count will be posted at 8:15 ET.

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

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: 1/7 2/4 3/4 4/1 5/6 6/3 7/1 8/5 9/2 10/1 11/4 12/2

Release For: Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov