January 2018 US Challenger layoffs report 1 February 2018
- Change -2.8% vs -3.6% prior y/y
Given the time of year, it will be no surprise where the bulk of the cuts came. The retail sector saw 15k cut, adding to the 22k last month. That’s the seasonals at play.
Overall, Challenger see a stronger labour market;
“Many companies are enjoying relative financial health and a strong economy right now. The good news for those who are finding themselves separated from their previous companies is that employers are scrambling to find talent,” said John Challenger, Chief Executive Officer of Challenge
That comment is also a big signal for wage rises as a tighening market means the balance of power swings to the employee as firms go chasing.
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