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2008 Economic Calendar |
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Resource Center » U.S. & Intl Recaps | Release Dates | Why Investors Care | Today's Calendar
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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
| Released on 10/3/06 For Sep 2006 | ||||||||
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Highlights
Layoff announcements were up in September, results that won't lift expectations for Friday's payroll report. Challenger's monthly tally totaled 100,315 led, ominously, by the auto sector where GM and Ford are now downsizing. The total compares with 65,278 in August and 71,836 a year ago and is the first reading over 100,000 since January. Employers cited lower demand as the chief cause for layoffs followed by cost cutting. But a positive in the report was a rise in hiring intentions, to 29,441 vs. 7,591 in August and 15,666 a year ago. ADP's data tomorrow morning will be the next pre-jobs report.
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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. |
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