Job cuts announced by US-based employers fell to 32,843 in December 2019, the lowest since July 2018, down 26.3 percent from November and 25.2 percent from the same month last year. Considering 2019 full year, employers announced plans to cut 592,556 jobs from their payrolls, 10 percent year-on-year and the highest annual total since 2015, when 598,510 cuts were announced. Retail led all sectors in 2019 with 77,475 job cuts, of which 48,753 were due to bankruptcies, followed by industrial goods manufacturers (70,894 cuts, the highest since 2009), auto makers (50,776 cuts, the highest since 2009) and technology companies (64,166 cuts). “The sectors with the highest number of cuts this year were all dealing with trade concerns, emerging technologies, and shifts in consumer behavior. We tracked a lot of hiring activity in these industries as well as cuts,” said Challenger. Challenger Job Cuts in the United States averaged 64311.13 Persons from 1994 until 2019, reaching an all time high of 248475 Persons in January of 2002 and a record low of 15100 Persons in June of 1997.
Challenger Job Cuts in the United States is expected to be 65000.00 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 2020, according to our econometric models.