October planned job cuts up sharply due to Verizon buyouts

U.S.-based employers announced plans to cut 75,644 jobs from their payrolls in October, up 36.8 percent from September and 153.6 percent higher year-on-year, although 58.2 percent of these cuts were for a single employer, Verizon. October job cuts are the highest since July 2015, when 105,696 cuts were announced, but YTD job cuts are still up just 5.5 percent from 2017.

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July planned job cuts fall to lowest level of 2018, but YTD cuts still up 6.7 percent from 2017

U.S.-based employers announced plans to cut 27,122 workers from payrolls during July, down both 27.1 percent from June and 4.2 percent year-on-year.  Although July's total was the lowest of the year, YTD job cuts are still up 6.7 percent from 2017. Still, nearly 90 percent of companies polled are in hiring or retention mode.

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June planned job cuts up 18 percent from May and 19.6 percent year-on-year

Job cuts announced by U.S.-based employers rose 18 percent to 37,202 in June, and were up 19.6 percent year-on-year.  Although the second quarter saw 25.3 percent fewer cuts than the previous quarter, they were still up 4 percent year-on-year.

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May planned job cuts down 12.6 percent from April, but YTD cuts still up 6.2 percent year-on-year

Job cuts announced by U.S.-based employers in May fell 12.6 percent from April, and were also down 4.8 percent year-on-year. So far this year, however, announced job cuts are up 6.2 percent year-on-year, with those in the retail sector rising by 24 percent.

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April planned job cuts plummeted 40.2 percent from March, down 1.4 percent year-on-year

Job cuts announced by U.S.-based employers fell 40.2 percent in April, and were also down 1.4 percent year-on-year.  So far this year, employers have announced 176,460 job cuts, 8.38 percent more than those announced through the first four months of 2017, with 36.5 percent of those in retail.

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March planned job cuts up 71 percent from February and 39 percent year-on-year

Job cuts announced by U.S.-based employers surged in March to 60,357, a 71 percent increase from February and 39 percent higher year-on-year. Last month's total is the highest monthly total since April 2016.

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2018 YTD job cuts at lowest level since 1995

The nation's employers announced plans to cut 35,369 jobs in February, down 20 percent from the 44,653 cuts announced the previous month and 4.3 percent lower year-on-year. So far this year, employers have announced 80,022 cuts, 3.5 percent lower than through February last year. This is the lowest number of announced job cuts between January and February since 1995.

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January planned job cuts up 37.7 percent from December, down 2.8 percent year-on-year

The nation’s employers announced plans to cut 44,653 jobs in January, 37.7 percent higher than in December but still 2.8 percent lower year-on-year.

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December's planned job cuts dip 7.4 percent from November; annual total lowest since 1990

U.S.-based employers announced 32,423 job cuts in the last month of the year, bringing the year-end total to 418,770, or the lowest annual total since 1990.  Last month saw a 7.4 percent decrease from November's total of 35,038, and a 3.6 percent decrease from the 33,627 cuts announced in the same month last year.

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October 2017 Job Cut Report: 29,831 Cuts, Lowest 10-month Total Since 1997

U.S.-based employers announced 29,831 job cuts in October, down 3 percent from the same month last year. So far in 2017, employers have announced 25 percent fewer job cuts than they did in the same period last year. This is the lowest ten-month total since 1997, when 328,816 cuts were announced through October.

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August planned job cuts down 4.4 percent from July and 27 percent year-on-year

Job cuts announced by U.S.-based employers fell 4.4 percent in August from July, and are also down by 27 percent year-on-year. So far this year, planned job cuts are down 26.2 percent from the same period of 2016.

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July planned job cuts dropped to lowest level since last November; hiring announcements surged

U.S.-based employers announced plans to cut payrolls by 28,307 jobs in July, the lowest monthly total since November 2016. Meanwhile, over 88,000 hiring announcements were recorded last month, the third-highest hiring month of the year and highest July total on record.

The July job-cut total is 9 percent lower than the 31,105 cuts recorded in June, and 37.6 percent lower than the same month last year, when 45,346 cuts were recorded. Last month’s job cuts were the lowest monthly total since November 2016, when 26,936 cuts were announced.

So far this year, employers announced 255,307 planned job cuts, down 28.9 percent from the 359,100 cuts announced through the first seven months of 2016.

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Planned job cuts dipped six percent in June from May; also down 28 percent for first half of year

Employers announced plans to cut payrolls by 31,105 jobs in June, the lowest monthly total of the year as well as being 6 percent lower than in May and 19.3 percent lower year-on-year.  Through the first six months of 2017, employers announced 227,000 planned job cuts, down 28 the same period of 2016.

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Planned job cuts rose sharply in May, but still down 28 percent YTD from 2016

The number of workforce reductions announced by US-based employers rose sharply in May, as planned job cuts totaled 51,692 for the month, although nearly 40 percent of those job cuts were announced by Ford Motor Company.

Employers have announced a total of 214,495 job cuts so far this year, down 28 percent year-on-year.

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April planned job cuts down 15 percent from March and 43 percent year-on-year

US-based employers announced workforce reductions totaling 36,602 during the month, down 15 percent from March and 43 percent lower than the 64,141 recorded in April 2016.  Of these cuts, 11,669 were in the retail sector, the highest total among all industries.

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BuilderBytes' MetroIntelligence Economic Update for 7/12/16

 

Please click here to see the edition of BuilderBytes for 7/12/16 on the Web.

In this issue of the MetroIntelligence Economic Update, we covered the following indicators:

• Planned job cuts rose 28 percent in June but still 26 percent lower than the 12-month average
• Federal Reserve opts to leave interest rates steady in wake of Brexit vote
• Initial unemployment claims fell by 16,000 in latest report
• Mortgage applications rose 14.2 percent in latest survey as rates dip to lowest level since May 2013
• 287,000 jobs created in June as unemployment rate rebounded to 4.9 percent
• Consumer credit rose more than 6 percent in May due largely to more car loans

Want to advertise in this three-times-per-week newsletter and reach over 130,000 readers? Contact the editor at nslevin@penpubinc.com.

BuilderBytes' MetroIntelligence Economic Update for 7/8/16

Please click here to see the edition of BuilderBytes for 7/8/16 on the Web.

In this issue of the MetroIntelligence Economic Update, I covered the following indicators:

• ADP: Private sector jobs grew by 172,000 in June
• Planned job cuts rose 28 percent in June but still 26 percent lower than the 12-month average
• Federal Reserve opts to leave interest rates steady in wake of Brexit vote
• Initial unemployment claims fell by 16,000 in latest report
• Mortgage applications rose 14.2 percent in latest survey as rates dip to lowest level since May 2013

Want to advertise in the newsletter and reach over 130,000 readers? Contact the editor at nslevin@penpubinc.com.

Planned job cuts rose 28 percent in June but still 26 percent lower than the 12-month average

Job cut announcements were up 28 percent last month to 38,536, but they increased from the lowest total of the year to the second lowest of the year. The June total is still 26 percent lower than the 53,049 monthly job cuts averaged over the past year.

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Planned job cuts fell 53 percent from April to May to lowest total since December 2015

The number of job cuts announced by U.S.-based employers fell sharply in May, falling by 53 percent from April to 30,157 and is the lowest total since last December.

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BuilderBytes' MetroIntelligence Economic Update for 11/06/15

Please click here to see the edition of BuilderBytes for 11/06/15 on the Web.

In this issue of the MetroIntelligence Economic Update, I covered the following indicators:

• Planned job cuts dropped by 14 percent in October but still up 31 percent vs. 2014
• Productivity rose at 1.6 percent in third quarter of 2015, with hours worked falling for first time since 2009
• Mortgage applications dip 0.8 percent in latest survey as rates rise slowly
• Initial unemployment claims rise by 16,000 in latest report

Want to advertise in the newsletter and reach over 130,000 readers? Contact National Sales Manager Nick Cosan at nkosan@penpubinc.com.