| Challenger Job-Cut Report |
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Released On 10/4/2012 7:30:00 AM For Sep, 2012
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Prior | Actual |
| Announced Layoffs - Level | 32,239 | 33,816 |
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Highlights
Layoff announcements are holding at recovery lows, at 33,816 in September which is only a bit above August's 32,239. Challenger's count is showing four straight months below 40,000 which is a recovery best. September's layoff count is heaviest in energy and insurance.
This report is roughly in line with weekly jobless claims which, despite being elevated, are also holding near recovery lows. Tomorrow's big employment report is expected to show monthly improvement but at low levels of payroll growth.
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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
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![[Chart]](showimage.asp?imageid=23304)
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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
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