Recent Updates

  • Korea: Housing Supply/Inventory Statistics (Jan)
  • Euro area: **Select SA trade series for the EU and EA have been reverted to data as of yesterday until Eurostat releases corrected data**
  • US: Quarterly Financial Report (Q4)
  • *Singapore's real international trade has changed reference year from 2012 Singapore dollars to 2018 Singapore dollars.*
  • *Hong Kong Trade Indexes rebased from 2016=100 to 2017=100*
  • Canada: International Transactions in Securities (Jan)
  • more updates...

Economy in Brief

Challenger Job Cuts Rise Slightly But Hiring Surges
by Tom Moeller  January 31, 2013

The outplacement firm of Challenger, Gray & Christmas reported that 40,430 job cuts were announced during January. The latest level was up slightly from December but still near the economic recovery low. During the last ten years there has been a 67% correlation between the three-month moving average of announced job cuts and the three-month change in payroll employment. Job cut announcements differ from layoffs. Many are achieved through attrition, early retirement or just never occur. 

Challenger also samples firms' hiring plans and they surged versus last year. The gain was led by the government and the education industries.

The Challenger figures are available in Haver's SURVEYS database. 

Challenger, Gray & Christmas Jan Dec Nov Y/Y% 2012 2011 2010
Announced Job Cuts 40,430 32,556 57,081 -24.4 523,362 606,082 529,973
Announced Hiring Plans 60,585 16,266 28,526 700.5 630,447 537,572 402,638
close
large image