Econoday Report: Challenger Job-Cut Report 2, 2007

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Challenger Job-Cut Report

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

Released on 5/2/07 For Apr 2007

Announced Layoffs - Level
Actual	70,672
Previous	48.,997

Highlights
Challenger's layoff count totaled 70,672 in April, up from 48,997 in March and 59,688 in April last year. The latest jump reflects huge cuts in the financial sector, at 33,789, led by widely publicized cuts at Citigroup but also reflecting cuts tied to fallout from subprime mortgage failures. Challenger's data usually have little impact on expectations for monthly payroll data, but the cuts in the financial sector may raise new concerns over Friday's Labor Department report. Next data on the labor market will be at 8:15 a.m. ET with the ADP employment report.

Trends

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

2007 Release Schedule

Released On: 1/4 2/1 3/1 4/4 5/2 6/6 7/5 8/1 9/5 10/3 11/1 12/5

Released For: Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov