Job cuts announced by US-based employers rose to 67,735 in January 2020, up 106 percent from December and 27.8 percent from the same month last year. That was the highest total since February 2019 and the highest level for a January month since 2016. Technology companies led in announced job cuts last month with 13,869, 1,828.9 percent higher than December and 2,073.4 percent higher than January 2019. Technology companies cut 64,166 jobs in 2019, compared to 14,230 in 2018. Retail announced the second-highest number of cuts, with 10,444, many due to bankruptcies, while Industrial Goods Manufacturers announced 6,098 cuts, 1,740 of which cited the causes as market conditions and financial losses.
Challenger Job Cuts in the United States averaged 64322.07 Persons from 1994 until 2020, reaching an all time high of 248475 Persons in January of 2002 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.
Challenger Job Cuts in the United States is expected to be 65000.00 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 51000.00 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.