- US: GDP & Corporate Profits (Q4, 3rd release)
- Canada: Industrial Products & Raw Material Prices (Feb)
- Spain: Flash HICP and CPI, Construction Business Survey Press (Mar)
- Euro area: EC Business and Consumer Surveys (Mar)
- Belize: GDP (Q4)
- Chile: IP (Feb); Brazil: Retail Trade - Rebased 2014=100 (Jan)
- Croatia: Employment, Retail Trade Press (Feb), Earnings (Jan); Bulgaria: PPI (Feb); Montenegro: Wages (Feb); Latvia: Retail Trade (Jan); Lithuania: External Debt Service (Q4);
- more updates...
Economy in Brief
U.S. Initial Claims for Unemployment Insurance Ease
Initial jobless insurance applications fell to 258,000 (-3.1% y/y) during the week ended March 25...
U.S. Pending Home Sales Jump
The NAR reported that pending home sales increased 5.5% in February to an index level of 112.3...
U.S. Mortgage Loan Applications Remain Little Changed; Variable Rate Apps Surge
The MBA total Mortgage Market Volume Index slipped 0.8% last week (-12.4% y/y)...
La Dolce Vita? Italian Confidence Bumps Higher
Italian business and consumer confidence moved higher in March...
U.S. Consumer Confidence Improves Significantly
The Conference Board Consumer Confidence Index for March strengthened 8.2% (30.7% y/y) to 125.6...
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...
by Tom Moeller August 4, 2016
The outplacement firm of Challenger, Gray & Christmas reported that job cut announcements during July rose to 45,346 (-57.1% y/y) following June's increase to 38,536. Layoffs increased in the aerospace/defense, commodities, computer, electronics, energy, government, industrial goods, real estate, telecommunications & utility 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. Layoffs fell in the automotive, chemical, construction, consumer products, education, entertainment/leisure, financial, food, health care, insurance, media, pharmaceutical, retail, services, and transportation industries.
Challenger also samples firms' hiring plans. Hiring increased to 16,051 last month (37.9% y/y) after falling to 13,564 in June. It rose in the aerospace/defense, automotive, computer, construction, consumer products, education, electronics, entertainment/leisure, financial, food, government & nonprofit, health care, legal and services industries. No industries reported less hiring.
The Challenger figures are available in Haver's SURVEYS database.
Challenger, Gray & Christmas
|Jul||Jun||May||Jul Y/Y %||2015||2014||2013|
Announced Job Cuts
Announced Hiring Plans