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.


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United States Challenger Job Cuts

Actual Previous Highest Lowest Dates Unit Frequency
67735.00 32843.00 248475.00 15100.00 1994 - 2020 Persons Monthly
NSA


Calendar GMT Actual Previous Consensus TEForecast
2019-10-31 11:30 AM Oct 50.275K 41.557K 80K
2019-12-05 12:30 PM Nov 44.569K 50.275K 59K
2020-01-02 12:30 PM Dec 32.843K 44.569K 48K
2020-02-06 12:30 PM Jan 67.735K 32.843K 52K
2020-03-05 12:30 PM Feb 67.735K 78K
2020-04-02 11:30 AM Mar 65K
2020-05-07 11:30 AM Apr 46K
2020-06-04 11:30 AM May 64K


News Stream
US Companies Cut the Most Jobs in 11 Months
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.
2020-02-06
US Job Cuts Fall to 1-1/2-Year Low
Job cuts announced by US-based employers fell to 32,843 in December 2019, the lowest since July 2018, down 26.3 percent from November and 25.2 percent from the same month last year. Considering 2019 full year, employers announced plans to cut 592,556 jobs from their payrolls, 10 percent year-on-year and the highest annual total since 2015, when 598,510 cuts were announced. Retail led all sectors in 2019 with 77,475 job cuts, of which 48,753 were due to bankruptcies, followed by industrial goods manufacturers (70,894 cuts, the highest since 2009), auto makers (50,776 cuts, the highest since 2009) and technology companies (64,166 cuts). “The sectors with the highest number of cuts this year were all dealing with trade concerns, emerging technologies, and shifts in consumer behavior. We tracked a lot of hiring activity in these industries as well as cuts,” said Challenger.
2020-01-02
US Companies Cut Less Jobs in November
US-based employers announced plans to cut 44,569 jobs from their payrolls in November of 2019, down 11 percent from the 50,275 cuts announced in October and 16 percent less than 53,073 a year earlier. November cuts were led by the technology sector, which announced 7,292 cuts. Health Care companies, including hospitals and medical products manufacturers, announced the second-highest total in November, with 6,247. Considering the January-November period, employers have announced plans to cut 559,713 jobs from their payrolls, 13.1 percent higher than the 494,775 cuts announced through November last year. It is the highest January-November total since 2015. Retail continues to lead all sectors in 2019 with 74,686 cuts, followed by industrial goods (68,141) and technology (63,447). "The Tech sector is undergoing major changes due to an evolving landscape. New technologies are changing the way people work and often make workplaces more efficient” said Challenger.
2019-12-05
US Job Cuts Down 33.5%: Challenger
US-based employers announced plans to cut 50,275 jobs from their payrolls in October 2019, down 33.5 percent from the 75,644 cuts announced in the same month last year. The technology sector led all sectors with 15,898 announced cuts, bringing the year-to-date total to 56,155, the third-highest total for any industry through October. Health care companies announced 5,400 cuts while retail announced 6,127. So far this year, employers have announced plans to cut 515,441 jobs from their payrolls, 16.6 percent higher than the same period last year. It is the highest January-October total since 2015.
2019-10-31

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