US August Challenger job cuts +39.0% vs +43.2% y/y prior
Latest data released by Challenger, Gray, and Christmas Inc - 5 September 2019
- Prior +43.2%
- Layoffs 53.48k
- Prior 38.85k
The data provides information on the number of announced corporate layoffs by industry and region and acts as a general labour market indicator. The number of layoffs have increased quite a bit relative to July with trade difficulties being cite among reasons for over 10k job cuts during the month of August.
In essence, this could be pointing towards the start of a bit of a problem in the US labour market if the effects of ongoing trade tensions with China continue to hit home in the manufacturing sector in particular.