From Forex Live:
As we head into the late spring and summer time-frame, the worsening employment situation should become obvious to all. Keep in mind that the Challenger report reflects "planned" layoffs rather than ones that have taken place. It is more of a leading employment indicator.
My view:Challenger Grey US layoffs report 7 May 2015
- Layoffs 61,582 vs 36,594 prior
- Largest since May 2012
- Layoffs +53% y/y
- Total layoffs YTD 201,796, +25% y/y
- Largest 4 month total since 2010
Another negative sign for US jobs. The energy sector printed the worst numbers with falling oil prices accounting for around 34% of the headline layoffs
As we head into the late spring and summer time-frame, the worsening employment situation should become obvious to all. Keep in mind that the Challenger report reflects "planned" layoffs rather than ones that have taken place. It is more of a leading employment indicator.
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