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Economy in Brief
U.S. Mortgage Loan Applications Post Another Strong Increase
The MBA total Mortgage Applications Index rose 1.6% (-13.2% y/y) during the week ended December 7...
EMU-Area IP Is Slowing But Still Growing; IP Makes Modest Rebound
EMU IP gained 0.2% in October after a 0.6% decrease...
U.S. Producer Prices Edge Higher
The headline Final Demand Producer Price Index using new methodology ticked 0.1% higher (2.5 % y/y) during November...
U.S. Financial Accounts Show Moderate Borrowing, Average Ratio to GDP
rowing in U.S. financial markets slowed in Q2 2018, according to the Federal Reserve's Financial Accounts data...
U.S. Small Business Optimism Diminishes
The NFIB Small Business Optimism Index declined to 104.8 during November...
by Tom Moeller March 2, 2005
Challenger, Gray & Christmas reported that job cut announcements rose 17.4% last month and reversed most of the decline in January.
Challenger also reported that announced hiring rose to 41,984 jobs, up sharply from 4Q.
During the last ten years there has been an 85% (inverse) correlation between the three month moving average of announced job cuts and the three month change payroll employment.
Increases in job cut announcements were notable last month in the telecommunications, transportation, insurance, energy and consumer goods industries.
Job cut announcements differ from layoffs. Many are achieved through attrition, early retirement or just never occur.
| Challenger, Gray & Christmas | Feb | Jan | Y/Y | 2004 | 2003 | 2002 |
|---|---|---|---|---|---|---|
| Announced Job Cuts | 108,387 | 92,351 | 40.3% | 1,039,175 | 1,236,426 | 1,431,052 |
