- Spain: Services Sector Activity, New Orders and Turnovers (Feb)
- Finland: PPI, Domestic Supply Prices (Mar)
- US: NABE Business Conditions Survey (Q1)
- Japan: Index of Business Conditions (Feb-Final)
- Indonesia: Non-Oil and Gas Trade (Feb); Taiwan: Labor Market (Mar)
- Egypt: IP (Feb)
- more updates...
Economy in Brief
Fresh Six-Year PMI Highs for Euro Area
The 'fresh six-year high' is a pleasant surprise that continues, but...
Philadelphia Fed Factory Conditions Soften
The Philadelphia Fed reported that its General Factory Sector Business Conditions Index fell to 22.0 during April...
U.S. Leading Economic Indicators Suggest Continued Expansion
The Conference Board's Composite Index of Leading Economic Indicators increased 0.4% (3.5% y/y) during March...
U.S. Initial Unemployment Insurance Applications Increase
Initial unemployment claims for unemployment insurance rose to 244,000 during the week ended April 15 (-5.1% y/y)...
Japan's 'Trade Trends' Stabilize on an Unstable Foundation
Japan trade trends, broadly considered, seem to be stabilizing...
U.S. Mortgage Loan Applications Fall
The MBA total Mortgage Applications Volume Index declined 1.8% last week (-24.9% y/y)...
by Tom Moeller June 2, 2016
The outplacement firm of Challenger, Gray & Christmas reported that job cut announcements during May fell sharply to 30,157 (-26.5% y/y) following April's increase to 64,141, revised down from 65,141. It was the lowest layoff level since December. Layoffs declined in the aerospace/defense, automotive, chemical, commodities, computer, consumer products, energy, entertainment/leisure, financial, government/nonprofit, industrial goods, retail and telecommunication industries. Layoffs increased in the apparel, construction, education, electronics, food, health care, insurance, media, pharmaceutical, services and transportation 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 strengthened 24,732, and nearly doubled y/y, after rising 11,557 in April. It rose in the chemical, computer, education, food, insurance, media, retail and telecommunications industries. Hiring fell in the aerospace/defense, automotive, construction, consumer products, electronics, energy, entertainment/leisure, financial, government/nonprofit, pharmaceutical industries.
The Challenger figures are available in Haver's SURVEYS database.
Challenger, Gray & Christmas
|May||Apr||Mar||May Y/Y %||2015||2014||2013|
Announced Job Cuts
Announced Hiring Plans