Job cuts announced by US-based employers totaled 170,219 in June of 2020, down 57% from 397,016 in May. Prior to when cuts began to increase in March, it is the highest monthly total since February of 2009, when 186,350 job cuts were announced. Considering Q2, job cuts hit 1,238,364, the highest quarterly total on record. So far this year, employers have announced 1,585,047 cuts, 379% higher than a year earlier. While COVID-19 was cited as the reason for 1,011,387 cuts, market conditions were to blame for 228,592. Another 71,814 cuts were due to closings and 62,564 were due to a demand downturn. "Job cuts are trending down, as expected, as businesses begin the difficult task of reopening. However, with a resurgence in cases, millions of Americans out of work, and enhanced unemployment benefits coming to an end soon, we may expect more companies to make cuts as consumer and business spending slows,” said Andrew Challenger, Senior Vice President of Challenger, Gray & Christmas, Inc.

Challenger Job Cuts in the United States averaged 68082.14 Persons from 1994 until 2020, reaching an all time high of 671129 Persons in April of 2020 and a record low of 15100 Persons in June of 1997. This page provides the latest reported value for - United States Challenger Job Cuts - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States Challenger Job Cuts - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020.

Challenger Job Cuts in the United States is expected to be 150000.00 Persons by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Challenger Job Cuts in the United States to stand at 50000.00 in 12 months time. In the long-term, the United States Challenger Job Cuts is projected to trend around 55000.00 Persons in 2021, according to our econometric models.

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United States Challenger Job Cuts

Actual Previous Highest Lowest Dates Unit Frequency
170219.00 397016.00 671129.00 15100.00 1994 - 2020 Persons Monthly
NSA


Calendar GMT Actual Previous Consensus TEForecast
2020-04-02 11:30 AM Mar 222.288K 56.66K 105K
2020-05-07 11:30 AM Apr 671.129K 222.288K 610K
2020-06-04 11:30 AM May 397.016K 671.129K 810K
2020-07-01 11:30 AM Jun 170.219K 397.016K 180K
2020-08-06 11:30 AM Jul 170.219K 125K
2020-09-03 11:30 AM Aug 149K
2020-10-01 11:30 AM Sep 150K
2020-11-05 12:30 PM Oct 95K


News Stream
US Employers Announce 170K Layoffs in June
Job cuts announced by US-based employers totaled 170,219 in June of 2020, down 57% from 397,016 in May. Prior to when cuts began to increase in March, it is the highest monthly total since February of 2009, when 186,350 job cuts were announced. Considering Q2, job cuts hit 1,238,364, the highest quarterly total on record. So far this year, employers have announced 1,585,047 cuts, 379% higher than a year earlier. While COVID-19 was cited as the reason for 1,011,387 cuts, market conditions were to blame for 228,592. Another 71,814 cuts were due to closings and 62,564 were due to a demand downturn. "Job cuts are trending down, as expected, as businesses begin the difficult task of reopening. However, with a resurgence in cases, millions of Americans out of work, and enhanced unemployment benefits coming to an end soon, we may expect more companies to make cuts as consumer and business spending slows,” said Andrew Challenger, Senior Vice President of Challenger, Gray & Christmas, Inc.
2020-07-01
US Companies Cut Near 400K Jobs in May
Job cuts announced by US-based employers totaled 397,016 in May of 2020, down 40.8 percent from 671,129 in APril, the highest monthly total on record. Despite the drop, last month’s total is the second highest monthly total on record, due to the coronavirus pandemic. The COVID-19 pandemic caused 209,147 cuts in May, followed by 119,018 job cuts due to market conditions, and 50,172 announced cuts due to demand downturn. By far, the majority of cuts came from Entertainment/Leisure companies, including bars, restaurants, hotels, and amusement parks, which announced 163,680 cuts in May. So far this year, 1,414,828 job cuts have been announced, 389.5 percent higher than the 289,010 announced in the first five months of 2019, and the highest January-May total on record.
2020-06-04
US Job Cuts Highest on Record
Job cuts announced by US-based employers jumped to 671,129 in April 2020, the highest single-month total since comparable records began in January 1993, due to the COVID-19 pandemic. April’s total is 202 percent higher than the 222,288 job cuts announced in March and 1,577 percent higher than the 40,023 cuts announced in the same month last year. It is 170 percent higher than the previous record monthly total of 248,475 job cuts tracked in January 2002. So far this year, 1,017,812 job cuts have been announced, 342 percent higher than the 230,433 announced in the first four months of 2019 and the highest on record. The vast majority of cuts came from companies in the entertainment/leisure sector, which includes bars, restaurants, hotels, and amusement parks, followed by retailers and the services sector, which includes companies that provide catering, linen, marketing, and administrative services.
2020-05-07
US Companies Cut the Most Jobs since 2009
Job cuts announced by US-based employers jumped to 222.28 thousand in March of 2020, the most since January of 2009. March was the first month when companies started to make redundancies specifically due to the COVID-19 pandemic. The pandemic that shut down non-essential businesses in nearly every state and most major metro areas caused 141,844 cuts, primarily in entertainment/leisure, which now leads all sectors in job cuts with 96,887. In the first quarter of 2020, employers announced 346,863 job cuts, up 82 percent from the 190,410 cuts announced in the first quarter last year. It is the highest quarterly total since Q1 2009, when 562,510 cuts were announced.
2020-04-02

United States Challenger Job Cuts
Challenger Job-Cut Report provides information on the number of announced corporate layoffs by industry and region.