US based employers announced 80,666 job cuts in October of 2020, well below 118,804 in September, and the least since February. Still, the number is 60 percent higher than the 50,275 cuts in the same month last year. The majority of redundancies continue to come from Entertainment/Leisure companies (14,876), energy (11,787), transportation (11,475) as airlines grapple with reduced travel and lower revenue, and services (9,471). So far this year, a record 2,162,928 job cuts have been announced, an increase of 320 percent from the same period a year ago. “The bulk of the announcements this year are indeed in industries directly impacted by shutdown orders and consumers’ wariness to spend money in such places, like restaurants, hotels, bars, and brick-and-mortar retail. We’ve now seen tens of thousands of cuts in industries outside Entertainment and Retail, indicating the impact is spreading,” said Andrew Challenger, Senior Vice President of Challenger, Gray & Christmas, Inc. source: Challenger, Gray and Christmas, Inc.
Challenger Job Cuts in the United States averaged 69031.06 Persons from 1994 until 2020, reaching an all time high of 671129 Persons in April of 2020 and a record low of 15100 Persons in June of 1997. 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 November of 2020.
Challenger Job Cuts in the United States is expected to be 71000.00 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 45000.00 in 12 months time. In the long-term, the United States Challenger Job Cuts is projected to trend around 55000.00 Persons in 2021, according to our econometric models.