A monthly report on the number of announced corporate layoffs. It is not adjusted for seasonal variations. The report indicates trends in the labor market. Why Investors Care
| Released on 6/4/08 For May 2008 | ||||||||
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Highlights
Challenger's layoff count totals 103,522 in May, up from April's 90,015 and compared with 71,115 in May last year. The auto sector is being hit hard, showing layoff announcements of 30,011 in a total inflated by the now resolved auto strike. But GM's announcement just yesterday of wide factory closings points to continued layoffs in the months ahead. These results won't raise optimism for Friday's payroll data. ADP, which is a market-moving indicator, is up at 8:15 a.m. ET.
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The Challenger Job-Cut Report could serve as a leading indicator for new jobless claims. However, not all layoff announcements result in near term job losses. For instance, companies often announce layoffs that will result in job losses but not immediately. Companies would simply not replace workers who quit voluntarily. |
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