Economy

Economic Data Roundup (10/05/2017)

10/5/17 12:00 PM

iStock-618526794.jpgThere were 32,346 corporate layoffs announced in America last month, according to a new report from Challenger, Gray & Christmas. That is a 4.4 percent decrease from August and 27.0 percent lower than this same period last year. During the past three months 94,478 job cuts have been announced, the smallest third quarter total since 1996. Moreover, 321,478 corporate layoffs have occurred year-to-date, 26.2 percent lower than during the first nine months of 2016. As for the job cuts that are occurring this year, the retail sector continues to lead the way with 71,057 workers let go so far in 2017, up 36.8 percent from 2016. However, retailers through September have also announced plans to add around a half a million new jobs, both seasonal and permanent. John A. Challenger, chief executive officer of Challenger, Gray & Christmas, added that “As companies grapple with potential deregulation and changes to health care costs in a tight labor market, employers are holding on to their existing workforces while many positions requiring skilled labor go unfilled.”

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Sources: Challenger, Gray & Christmas

Post author: Charles Couch