US-based companies announced plans to cut 25,810 jobs from their payrolls in July of 2022, a 36.3% increase from the 18,942 cuts announced in July of 2021. The figure marks the second-highest amount of job cuts in the year so far, easing from the 16-month high of 32,517 in June. The automotive sector shed 9,510 jobs in July, while the technology sector cut 3,558 positions and financial firms cut 1,327 jobs. Still, the Challenger report noted that the labor market remains tight and that larger-scale layoffs have not yet started, despite indications that hiring activity is slowing after an extended period of growth.So far this year, employers announced plans to cut 159,021 jobs from their payrolls, a 31.3% drop from the corresponding period of the previous year. source: Challenger, Gray and Christmas, Inc.
Challenger Job Cuts in the United States averaged 66620.46 Persons from 1994 until 2022, reaching an all time high of 671129 Persons in April of 2020 and a record low of 14875 Persons in November of 2021. This page provides the latest reported value for - United States Challenger Job Cuts - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States Challenger Job Cuts - data, historical chart, forecasts and calendar of releases - was last updated on August of 2022.
Challenger Job Cuts in the United States is expected to be 28000.00 Persons by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States Challenger Job Cuts is projected to trend around 55000.00 Persons in 2023, according to our econometric models.