Job cuts announced by US-based employers fell by 21% to 60,587 in March of 2019 from 76,835 in the previous month, but were up by 0.4% from a year earlier. Most cuts were announced in the auto sector (8,838), energy (8,149), financial (4,884), retail (4,860) and media (3,365). Considering Q1, cuts totalled 190,410, 10.3% higher than the 172,601 cuts announced in Q4 2018 and 35.6% higher than the 140,379 announced Q1 2018. It is the highest quarterly total since Q3 2015, when 205,759 cuts were announced. It is also the highest first quarter total since 2009, when 562,510 cuts were recorded. The majority of cuts this year are due to “restructuring;” 49,868 cuts have been announced due to this reason. Bankruptcy claimed another 40,218 this year, a 33.8% increase over the first quarter of last year. Another 27,380 cuts were due to plant, unit, or store closings, 104.7% higher than the 13,374 cuts due to closings through this point last year. Challenger Job Cuts in the United States averaged 64894.15 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 36000.00 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 62100.00 in 12 months time. In the long-term, the United States Challenger Job Cuts is projected to trend around 41000.00 Persons in 2020, according to our econometric models.