US-based employers announced 15,762 jobs cuts in August of 2020, down 56 percent from July. Still, it is the highest total for August month since 2002 as an increasing number of companies that initially had temporary job cuts or furloughs are now making them permanent. The most jobs were lost in transportation (26,545) as airlines begin to make staffing decisions in the wake of decreased travel and uncertain federal intervention. This was followed by entertainment/Leisure companies, including bars, restaurants, hotels, and amusement parks, with 17,271 job cuts. Considering the first eight months of the year, US employers announced a record 1.963 million cuts. “Both companies and workers are grappling with increasing uncertainty due to stalled economic relief, the approaching election, and child care and education concerns. This is undoubtedly impacting talent management concerns,” Challenger said.
Challenger Job Cuts in the United States averaged 68839.16 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 September of 2020.
Challenger Job Cuts in the United States is expected to be 120000.00 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 50000.00 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.