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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 12/7/05 For Nov 2005 | ||||||
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Highlights
Challenger's count of lay-off announcements totaled 99,279 in November, up from 81,301 in October. The total is not only much higher from the prior month but isn't much better than a year ago when layoff announcements were 104,530. The auto industry had the highest total in the month and may also in future months given the ongoing contraction at GM and expectations, reported just today by the Detroit News of huge cuts at Ford.
But some of the sting is lessened by a big jump in hiring intentions, which rose to 96,282 vs. 28,460. November payrolls were released last week showing a nice 215,000 gain, largely in line with the mix of data reported today by Challenger. The report had no impact on the markets.
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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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