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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 9/5/07 For Aug 2007 | ||||||||
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Highlights
Challenger's layoff count totaled 79,459 in August, up from a 12-month low of 42,897 in July. August 2006's total was 65,278. Layoff announcement's were heaviest in the financial sector, which made up nearly half of all the announcements with 35,752 and reflected failures at mortgage and subprime lenders. But the good news in the report is that the layoffs were largely confined, at least so far, to the financial sector. Losses in the financial sector will be a focus of attention in the markets, but Challenger will be overshadowed by the later release this morning of ADP data.
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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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