US September Challenger job cuts report 6 Oct
- mm 44.3k vs 32.2k prev
- ytd 435,612
- 2016 seasonal hiring plans 477,300
Challenger Job Cuts, released by Challenger, Grey & Christmas monthly, provides information on the number of announced corporate layoffs by industry and region
Better than expected and vs a year ago will give the FOMC some cheer.
- job cuts were led by the education sector, which trimmed 8,671 jobs, almost all related to the collapse of ITT Technical Institute.
- computer and retail sectors also posted large
cuts. - Challenger said that some employers are holding off on hiring new workers
until after the Presidential election. - Hiring intentions totaled 487,075 in September, which is typically the first month of seasonal hiring in advance of the holidays. To date there have been 477,300 hiring plans for seasonal positions, compared with 657,460 for the entire season in 2015
By region:
- job cuts East 10715
- Midwest 11546
- West 7336
- South 14727
By industry:
