Job cuts announced by US-based employers jumped to 671,129 in April 2020, the highest single-month total since comparable records began in January 1993, due to the COVID-19 pandemic. April’s total is 202 percent higher than the 222,288 job cuts announced in March and 1,577 percent higher than the 40,023 cuts announced in the same month last year. It is 170 percent higher than the previous record monthly total of 248,475 job cuts tracked in January 2002. So far this year, 1,017,812 job cuts have been announced, 342 percent higher than the 230,433 announced in the first four months of 2019 and the highest on record. The vast majority of cuts came from companies in the entertainment/leisure sector, which includes bars, restaurants, hotels, and amusement parks, followed by retailers and the services sector, which includes companies that provide catering, linen, marketing, and administrative services.

Challenger Job Cuts in the United States averaged 66717.99 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 May of 2020.

Challenger Job Cuts in the United States is expected to be 180000.00 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 51000.00 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.

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United States Challenger Job Cuts

Actual Previous Highest Lowest Dates Unit Frequency
671129.00 222288.00 671129.00 15100.00 1994 - 2020 Persons Monthly
NSA


Calendar GMT Actual Previous Consensus TEForecast
2020-02-06 12:30 PM Jan 67.735K 32.843K 52K
2020-03-05 12:30 PM Feb 56.66K 67.735K 78K
2020-04-02 11:30 AM Mar 222.288K 56.66K 105K
2020-05-07 11:30 AM Apr 671.129K 222.288K 610K
2020-06-04 11:30 AM May 671.129K 560K
2020-07-01 11:30 AM Jun 180K
2020-08-06 11:30 AM Jul 36K
2020-09-03 11:30 AM Aug 59K


News Stream
US Job Cuts Highest on Record
Job cuts announced by US-based employers jumped to 671,129 in April 2020, the highest single-month total since comparable records began in January 1993, due to the COVID-19 pandemic. April’s total is 202 percent higher than the 222,288 job cuts announced in March and 1,577 percent higher than the 40,023 cuts announced in the same month last year. It is 170 percent higher than the previous record monthly total of 248,475 job cuts tracked in January 2002. So far this year, 1,017,812 job cuts have been announced, 342 percent higher than the 230,433 announced in the first four months of 2019 and the highest on record. The vast majority of cuts came from companies in the entertainment/leisure sector, which includes bars, restaurants, hotels, and amusement parks, followed by retailers and the services sector, which includes companies that provide catering, linen, marketing, and administrative services.
2020-05-07
US Companies Cut the Most Jobs since 2009
Job cuts announced by US-based employers jumped to 222.28 thousand in March of 2020, the most since January of 2009. March was the first month when companies started to make redundancies specifically due to the COVID-19 pandemic. The pandemic that shut down non-essential businesses in nearly every state and most major metro areas caused 141,844 cuts, primarily in entertainment/leisure, which now leads all sectors in job cuts with 96,887. In the first quarter of 2020, employers announced 346,863 job cuts, up 82 percent from the 190,410 cuts announced in the first quarter last year. It is the highest quarterly total since Q1 2009, when 562,510 cuts were announced.
2020-04-02
US Companies Cut Less Jobs in February
Job cuts announced by US-based employers fell to 56.66 thousand in February of 2020, down by 16.4 percent from January and by 26.3 percent from the same month last year. Technology (10,218), leads all industries in announced job cuts, followed by retail (8,096), transportation (6,703) and telecommunications (5,670). Considering the first two months of 2020, US companies announced plans to cut 124,395 jobs, down from 129,823 a year earlier. Despite widespread concerns about the coronavirus, it has yet to impact job cut announcements. This may change if the supply side remains dormant, as companies grapple with whether to keep operations open without product. It could also impact Retail, Hospitality, and Travel companies, if concerns keep people at home, said Challenger.
2020-03-05
US Companies Cut the Most Jobs in 11 Months
Job cuts announced by US-based employers rose to 67,735 in January 2020, up 106 percent from December and 27.8 percent from the same month last year. That was the highest total since February 2019 and the highest level for a January month since 2016. Technology companies led in announced job cuts last month with 13,869, 1,828.9 percent higher than December and 2,073.4 percent higher than January 2019. Technology companies cut 64,166 jobs in 2019, compared to 14,230 in 2018. Retail announced the second-highest number of cuts, with 10,444, many due to bankruptcies, while Industrial Goods Manufacturers announced 6,098 cuts, 1,740 of which cited the causes as market conditions and financial losses.
2020-02-06

United States Challenger Job Cuts
Challenger Job-Cut Report provides information on the number of announced corporate layoffs by industry and region.