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.