US-based employers announced plans to cut 53,480 jobs from their payrolls in August 2019, up 39 percent from 38,472 in the corresponding month of the previous year. Technology led all sectors in August, with 15,355 announced cuts, including 488 cuts from Cisco. The Government, both state and federal, announced 5,785 cuts and health care companies announced 5,040. Meanwhile, industrial goods manufacturing announced 3,822 cuts, transportation companies 3,554, and food companies 3,010. So far this year, employers have announced plans to cut 423,312 jobs from their payrolls, a 36.2 percent rise from the 310,773 cuts in the first eight months of 2018. It is the highest eight-month total since 2015, when 434,554 cuts were announced. Challenger Job Cuts in the United States averaged 64596.84 Persons from 1994 until 2019, reaching an all time high of 248475 Persons in January of 2002 and a record low of 15100 Persons in June of 1997.
Challenger Job Cuts in the United States is expected to be 61000.00 Persons by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Challenger Job Cuts in the United States to stand at 48000.00 in 12 months time. In the long-term, the United States Challenger Job Cuts is projected to trend around 55000.00 Persons in 2020, according to our econometric models.