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2009 Economic Calendar |
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Resource Center » U.S. & Intl Recaps | Release Dates | Why Investors Care | Today's Calendar
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A monthly report on the number of announced corporate layoffs. It is not adjusted for seasonal variations. The report indicates trends in the labor market. Why Investors Care
| Released on 9/2/05 For Aug 2005 | ||||||
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Highlights
Challenger's count of U.S. layoff intentions fell sharply in August, to 70,571 vs. 102,971 in July and, the more meaningful comparison since the data are not adjusted, vs. 74,150 in August last year. The results echo this morning's jobs report, which showed steady strength.
Still there was bad news. Layoffs in transportation were heavy amid airline troubles and cuts in municipal transit budgets. Bankruptcy was the leading cause of layoffs followed by closings.
The report noted that rebuilding will boost hiring in areas hit by Hurricane Katrina, which have been suffering high unemployment rates.
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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. |
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