- US: IIP (Q4)
- Zambia: BOP (Q4); Israel: Credit Card Purchases (Feb); UAE: CPI (Feb); Saudi Arabia: GDP (Q4-Prelim)
- Hungary: Employment (Feb); Bulgaria: Business Survey (Mar); Kazakhstan: Consolidated Budget (Feb)
- Sweden: Consumer Confidence, Business Tendency Survey, Public Finance (Mar); Iceland: PPI (Feb)
- Spain: Mortgage Market (Jan), Order Book Forecast (Mar)
- Italy: ISTAT Business & Consumer Survey (Mar)
- more updates...
Economy in Brief
U.S. Energy Product Prices Remain Under Pressure
Regular gasoline prices held steady at $2.32 per gallon last week (12.1% y/y) for the third straight week...
German Federal Debt Levels Fall
German debt level fell outright in Q4 2016 as the ratio of federal debt-to-GDP also fell...
NABE 2018 Forecast: Modest Improvement in Economic Growth & Higher Inflation
The NABE expects 2.5% real U.S. economic growth in 2018 compared to 2.3% forecast for 2017...
Texas Factory Sector Activity Remains Strong
The Dallas Fed indicated in its Texas Manufacturing Outlook Survey that the General Business Activity Index eased during March...
EMU Money and Credit Growth Are Less Than Impressive Than Euro-PMIs
EMU nominal money supply growth is slightly higher over three months, but credit growth in the EMU is slower...
Durable Goods Orders Strengthened by Another Jump in Aircraft
New orders for durable goods rose 1.7% (5.0% y/y) during February...
by Tom Moeller March 31, 2016
The outplacement firm of Challenger, Gray & Christmas reported that job cut announcements during March fell to 48,207 (+31.7% y/y) following the prior month's unrevised decline to 61,599. The latest was the lowest level in three months. Layoffs declined in the automotive, chemical, commodities, computer, electronics, energy, financial, government, industrial goods, insurance, services and transportation industries. Layoffs rose in the aerospace/defense, apparel, consumer products, education, entertainment/leisure, food, health care, legal, media, pharmaceutical, real estate, retail and telecommunications industries. During the last ten years, there has been a 68% correlation between the level of job cut announcements and the m/m change in payroll employment.
Challenger also samples firms' hiring plans. Hiring increased this month to 10,997 (71.5% y/y) after a decline to 7,539 in February. It increased in the aerospace/defense, automotive, chemical, computer, electronics, entertainment/leisure, financial, food, industrial goods, insurance, media, pharmaceutical, retail, services and telecommunications industries. No industries reported hiring declines.
The Challenger figures are available in Haver's SURVEYS database.
Challenger, Gray & Christmas
|Mar||Feb||Jan||Mar Y/Y %||2015||2014||2013|
Announced Job Cuts
Announced Hiring Plans