Recent Updates
- China: GDP (Q1)
- Euro area: CSPP Holdings Detail (Q1)
- US: Consumer Sentiment (Apr-prelim), New Residential Constr (Mar)
- Hong Kong: Personal Bankruptcy Petitions, Clearing
- more updates...
Economy in Brief
U.S. Housing Affordability Fell Back in February, but Still in Recent Range
The NAR U.S. Fixed Rate Mortgage Housing Affordability Index decreased 7.6% (-1.4% y/y) in February to 173.1...
European New Car Registrations Remarkably Strong Yet Forgettable
Car registrations are not going to be the only statistic that bears these dual and seemingly dueling characteristics...
U.S. Retail Sales Soar in March
Total retail sales including food service and drinking establishments increased 9.8% (27.7% y/y) during March...
U.S. Industrial Production Rebounded in March
Industrial production rebounded in March, rising 1.4% m/m (+1.0% y/y)...
U.S. Home Builder Index Edges Higher in April
The NAHB-Wells Fargo Composite Housing Market Index rose 1.2% to 83 during April...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Tom Moeller February 5, 2015
The outplacement firm of Challenger, Gray & Christmas reported that job cut announcements during January jumped to 53,041 (17.6% y/y) from 32,640 in December. It was the highest layoff level since February 2013. Layoffs rose m/m in the aerospace/defense, commodities, computer, construction, consumer products, electronics, energy, entertainment/leisure, financial, industrial goods, retail and transportation industries. Layoffs moved lower in the automotive, chemical, education, food, government, health care, media, pharmaceutical, services, telecommunications, and utility industries. During the last ten years there has been a 68% correlation between the level of job cut announcements and the m/m change in payroll employment.
Challenger also samples firms' hiring plans. Hiring increased in January in the apparel, automotive, construction, consumer products, entertainment/leisure, food, health care, insurance, pharmaceutical, services, telecommunications and transportation industries. Hiring declined in the aerospace/defense, commodities, electrics, financial, industrial goods, media and utility industries.
The Challenger figures are available in Haver's SURVEYS database.
Challenger, Gray & Christmas |
Jan | Dec | Nov | Y/Y % | 2014 | 2013 | 2012 |
---|---|---|---|---|---|---|---|
Announced Job Cuts |
53,041 | 32,640 | 35,940 | 17.6 | 483,171 | 509,051 | 523,362 |
Announced Hiring Plans |
8,774 | 7,332 | 11,291 | 39.0 | 821,506 | 764,206 | 630,447 |