Latest data released by Challenger, Gray, and Christmas Inc - 31 October 2019
- Prior -24.8%
- Layoffs 50.28k
- Prior 41.56k
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 in October is about ~21% higher than that of September but continues to owe much to industries that are described as "experiencing disruptions from new technologies, uncertainty from government regulation/trade, or slumping demand".
Most notably, the cuts were led by the tech sector this month (15.90k). However, relative to a year ago, the more startling change is layoffs from industrial goods manufacturers - 183% higher than when comparing from January through October.
I reckon that goes to show the type of hit the manufacturing sector has encountered globally and that is well reflected in the report above.
