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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
12/5/07
For
Nov 2007 |
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Announced Layoffs - Level
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| Actual |
73,140
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| Previous |
63,114
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Highlights
Challenger's layoff count totaled 73,140 in November, down about 5 percent from November 2006 but showing less strength in the labor market from October when Challenger's count showed a 9 percent year-on-year decline. The report said the heaviest cutting in the financial sector "seems to have passed" though further cuts will continue. Excluding the financial sector, the report said there's little impact from the credit turmoil. ADP's much more closely watched estimate for private payroll growth follows shortly.
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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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