December 2017 US Challenger layoffs report 4 January 2018
- Change -3.6% vs 30.1% prior y/y
As a whole, 2017 was the lowest for job cuts since 1993. Actually, at 418,770, it’s the lowest since 1990 but this report only started in 1993. There’s also some extra good news for jobs;
- Announced hiring plans are the highest on record, according to Challenger tracking
- Employers announced plans to hire over 1,100,000 new hires, 27 percent more than the 868,702 announced last year.
“While we may see more job cuts in the first quarter of 2018, some companies have announced wage increases and bonuses for employees due to the passing of the tax bill,” said Challenger.
This report is not really market moving but it does give some extra colour to the jobs market. Things can go a bit screwy early in the new year as seasonal holiday jobs get cut.
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