Recent Updates
- ** India's RBI Effective XR have rebased from 2004-05=100 to 2015-16=100. We are currently working on these changes. **
- Korea: Passenger Car Trade (Q4), MOTIE Trade (Feb)
- Manufacturing PMIs: Japan, China (Feb)
- Australia: MI Inflation Gauge Index, Avg Weekly Job Ads (Feb),
- more updates...
Economy in Brief
Chicago Business Barometer Declines Sharply in February
The ISM-Chicago Purchasing Managers Business Barometer fell 4.3 points in February to 59.5...
Goods Trade Deficit Widened Slightly in January
The advance estimate of the U.S. trade deficit in goods widened slightly to $83.74 billion in January..
Japan's Industrial Sector Mounts a Comeback
Japan's IP surged in January gaining 4.3% compared to December...
Aircraft Orders Boost U.S. Durable Goods Orders in January
Manufacturers' orders for durable goods increased a much larger-than-expected 3.4% m/m (4.5% y/y) in January...
Kansas City Fed Manufacturing Index Increases Again in February
The Kansas City Fed reported that its manufacturing sector business activity index rose to 24 in February...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Tom Moeller December 7, 2005
Challenger, Grey & Christmas reported that job cut announcements in November rose for the third consecutive month. The 22.1% rise to 99,279 followed a 13.2% rise the prior month and pulled the three month average of job cut announcements up to 84,139 (-19.7% y/y).
During the last ten years there has been an 84% (inverse) correlation between the three month moving average of announced job cuts and the three month change payroll employment.
Job cut announcements differ from layoffs. Many are achieved through attrition, early retirement or just never occur.
The aerospace (+251% y/y) and auto (+42% y/y) industries reported notable m/m increases in layoffs as did the financial (22.0% y/y) and the pharmaceutical (1,046% y/y) industries. These increases were somewhat offset by declines in retail (-31.8% y/y) and telecommunications (-71.2% y/y).
Challenger also reported that announced hiring plans rose sharply (413.8% y/y) for the second consecutive month.
Challenger, Gray & Christmas | Nov | Oct | Y/Y | 2004 | 2003 | 2002 |
---|---|---|---|---|---|---|
Announced Job Cuts | 99,279 | 81,301 | -5.0% | 1,039,175 | 1,236,426 | 1,431,052 |