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Challenger Job-Cut Report
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Definition
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
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| Released on
8/1/06
For
Jul 2006 |
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Announced Layoffs, Level
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| Actual |
37,178
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| Previous |
67,176
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Highlights
Challenger's count of lay-off announcements totaled a scant 37,178 in July vs. 67,176 in May and 102,971 a year ago. The report confirms recent improvement in jobless claims and is certain to lift confidence for solid job growth in Friday's monthly employment report. Month-to-month improvement was most noticeable in automotive, results perhaps skewed by summer retooling. Financial, pharmaceutical and aerospace & defense also showed improvement. Next jobs data will be the ISM's manufacturing employment index at 10:00 a.m. ET.
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Trends
![[Chart]](chart.gif)
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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. |
Data Source: Haver Analytics
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