June 2018 US Challenger layoffs report 5 July 2018
- 19.6% vs -4.8% prior y/y
Finally they published the full report;
Retail scalps led the way again and that stands at 73k for the year so far but well donw on last year. Challenger tracked some 2600 store closures.
“Cuts at retailers are considerably lower in the second quarter than in the first. While the pivot in retail is still causing a spate of store closures, retailers are finding other positions for their current workforces, as new technology enhancing the customer experience is implemented. Some retailers are already announcing hiring for the holiday season in order to have staff up to speed by peak shopping periods,”
“Consumers are confident in the current economy, which may translate to higher consumer spending, especially by the holidays. However, global trade fears and slow wage growth may hinder some of this optimism,” said Challenger.