Latest data released by Challenger, Gray, and Christmas Inc - 3 July 2019
- Prior +85.9%
- Layoffs 41.98k
- Prior 58.58k
The data provides information on the number of announced corporate layoffs by industry and region and acts as a general labour market indicator. This reaffirms the trend of rising job cuts in recent months and Q2 job cuts this year is seen higher by 34% compared to the same period last year.
The report highlights a continued increase in retail layoffs but also cuts seen in the industrial manufacturing and automotive sectors, which as mentioned last month may be affected by the ongoing trade dispute with Mexico.
Nothing much else to gather from the release here as it details very little on what to expect ahead of the non-farm payrolls release on Friday. Do take note that it is a US holiday tomorrow, which is why the data is released one day earlier than usual.
