US-based companies announced plans to cut 20,712 jobs from their payrolls in May of 2022, the lowest reading in three months. It is 15.8% lower than the 24,586 cuts announced in May of 2021. So far this year, employers announced plans to cut 100,694 job cuts, the lowest on record for the first five months of the year. Still, four industries saw more job cuts announced in May than in the previous four months of the year combined: technology (4,044, the highest since December of 2020); fintech (2,059); construction (817); and automotive (2,918). Meanwhile, employers in the US announced 126,083 hiring plans in May, primarily on plans from Ace Hardware to hire 40,000 associates and 7-Eleven, which plans to hire 60,000. So far this year, there were 612,686 hiring announcements, the second-highest January-May hiring total on record. source: Challenger, Gray and Christmas, Inc.

Challenger Job Cuts in the United States averaged 66840.15 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 July of 2022.

Challenger Job Cuts in the United States is expected to be 30000.00 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



Calendar GMT Actual Previous Consensus TEForecast
2022-05-05 11:30 AM Apr 24.286K 21.387K 22K
2022-06-02 11:30 AM May 20.712K 24.286K 26K
2022-07-07 11:30 AM Jun 20.712K 20K


Related Last Previous Unit Reference
Challenger Job Cuts 20712.00 24286.00 Persons May 2022
Hiring Plans Announcements 126083.00 88622.00 Persons May 2022

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
20712.00 24286.00 671129.00 14875.00 1994 - 2022 Persons Monthly
NSA

News Stream
US Job Cuts Fall in May
US-based companies announced plans to cut 20,712 jobs from their payrolls in May of 2022, the lowest reading in three months. It is 15.8% lower than the 24,586 cuts announced in May of 2021. So far this year, employers announced plans to cut 100,694 job cuts, the lowest on record for the first five months of the year. Still, four industries saw more job cuts announced in May than in the previous four months of the year combined: technology (4,044, the highest since December of 2020); fintech (2,059); construction (817); and automotive (2,918). Meanwhile, employers in the US announced 126,083 hiring plans in May, primarily on plans from Ace Hardware to hire 40,000 associates and 7-Eleven, which plans to hire 60,000. So far this year, there were 612,686 hiring announcements, the second-highest January-May hiring total on record.
2022-06-02
US Job Cuts Rise for 2nd Month
US-based companies announced plans to cut 24,286 jobs from their payrolls in April of 2022, the most since May last year, and a 14% increase from the 21,387 announced in March. It is the first time this year job cuts were higher than the corresponding month a year earlier. Entertainment/Leisure led all industries with 3,675 job cuts, followed by the Services sector (3,453), Financial companies (2,772) and Retailers (2,213). So far this year, employers announced plans to cut 79,982 job cuts, the lowest recorded January-April total on record. In April, employers announced 88,662 hiring plans, down 16% from March. "Job cut plans appear to be on the rise, particularly as companies assess market conditions, inflationary risks, and capital spending. Despite this, job openings are still at record highs. Workers who are being cut will have lots of opportunities and will likely land quickly,” said Andrew Challenger, Senior VP of Challenger, Gray & Christmas, Inc.
2022-05-05
US Job Cuts at 5-Month High
US-based companies announced plans to cut 21,387 jobs from their payrolls in March of 2022, the most in five months. Most cuts were due to store, unit, or plant closing (5,301) and vaccine refusal (3,278). By sector, for the fourth consecutive month, Health Care/Products announced the most job cuts (4,995). “There appears to be a return of a healthier churn in the labor market. Some U.S. Employers report hiring is getting easier, particularly with the incentives many companies put in place to attract and retain talent. Meanwhile, inflation impacts and war concerns are causing workers who were depending on savings or investments to seek out paid employment", said Andrew Challenger, Senior Vice President of Challenger, Gray & Christmas, Inc. In Q1, employers announced 55,696 cuts, down 62% year-on-year, and the lowest quarterly total since Q3 2021, when 52,560 cuts were recorded.
2022-03-31