US-based companies announced plans to cut 321,970 jobs from their payrolls in 2021, the least on record and down 86% from 2020 as employees try to retain workers faced with a record number of job quits. Company closings caused the most cuts (69,648), followed by restructuring (58,712), and market conditions (54,160). In December alone, 19,052 job cuts were announced, 28.1% above an 18-year low of 14,875 hit in November but still 75.3% less than 77,030 in December 2020. "The number of COVID cases will impact the labor market, regardless of how severe illnesses are. The main difference between COVID waves is that now much of the financial support from the government is gone, which may push workers who were leaving the workforce for child care, COVID concerns, or burnout back into the labor market. January may see more cuts due to workers’ refusal to get vaccinated, since many companies imposed deadlines for this month,” said Andrew Challenger, senior VP of Challenger, Gray & Christmas. source: Challenger, Gray and Christmas, Inc.

Challenger Job Cuts in the United States averaged 67535.11 Persons from 1994 until 2021, 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 January of 2022.

Challenger Job Cuts in the United States is expected to be 23000.00 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.

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United States Challenger Job Cuts


United States Challenger Job Cuts
Challenger Job-Cut Report provides information on the number of announced corporate layoffs by industry and region.
Actual Previous Highest Lowest Dates Unit Frequency
19052.00 14875.00 671129.00 14875.00 1994 - 2021 Persons Monthly
NSA

Calendar GMT Actual Previous Consensus TEForecast
2021-12-02 12:30 PM Nov 14.875K 22.822K 23K
2022-01-06 12:30 PM Dec 19.052K 14.875K 16K
2022-02-03 12:30 PM Jan 19.052K 23K


Related Last Previous Unit Reference
Challenger Job Cuts 19052.00 14875.00 Persons Dec/21
Hiring Plans Announcements 89984.00 6527.00 Persons Dec/21


News Stream
US Job Cuts in 2021 Lowest on Record
US-based companies announced plans to cut 321,970 jobs from their payrolls in 2021, the least on record and down 86% from 2020 as employees try to retain workers faced with a record number of job quits. Company closings caused the most cuts (69,648), followed by restructuring (58,712), and market conditions (54,160). In December alone, 19,052 job cuts were announced, 28.1% above an 18-year low of 14,875 hit in November but still 75.3% less than 77,030 in December 2020. "The number of COVID cases will impact the labor market, regardless of how severe illnesses are. The main difference between COVID waves is that now much of the financial support from the government is gone, which may push workers who were leaving the workforce for child care, COVID concerns, or burnout back into the labor market. January may see more cuts due to workers’ refusal to get vaccinated, since many companies imposed deadlines for this month,” said Andrew Challenger, senior VP of Challenger, Gray & Christmas.
2022-01-06
US Job Cuts Fall to Lowest Since 1993
Job cuts announced by US-based companies fell 34.8 percent from a month earlier and 77 percent from a year earlier to 14,875 in November 2021, the lowest monthly total since May 1993, as companies try to keep workers amid tight labor market. Companies in the technology sector announced the most job cuts (1,980), followed by the services sector (1,835), the health care/products sector (1,817), and the real estate sector (1,677). So far this year, employers have announced plans to cut 302,918 jobs from their payrolls, down 86% from the 2,227,725 jobs eliminated through the same period last year. It is the lowest January-November total on record.
2021-12-02
US Layoffs at 5-Month High: Challenger
US-based employers announced 22,822 job cuts in October of 2021, the highest reading in 5 months, with the majority of cuts (5,796) attributed to plant, store, and unit closing. For the third month in a row, companies in the Health Care/Products sector announced the most cuts with 6,694 and workers’ refusing to comply with vaccine mandates accounted for 5,071 cuts in October. So far this year, employers have announced plans to cut 288,043 jobs from their payrolls, down 87% from the 2,162,928 jobs eliminated through the same period last year. It is the lowest January-October total on record.
2021-11-04