US July Challenger job cuts +43.2% vs +12.8% prior
Latest data released by Challenger, Gray, and Christmas Inc - 1 August 2019
- Prior +12.8%
- Layoffs 38.85k
- Prior 41.98k
The data provides information on the number of announced corporate layoffs by industry and region and acts as a general labour market indicator. In terms of number of layoffs, the pace of job cuts actually slowed in July and is the lowest since August last year.
The bulk of the cuts came from the transportation, industrial and energy sector and relative to a year ago, is still far higher (43.2%). There isn't much of a trend to gather from the release here and it doesn't really tell much ahead of the non-farm payrolls tomorrow.