Challenger Job Cuts come in at -72.3% versus a year ago

Written December 2, 2009 at 7:35 AM EST by  

tjc2

The YoY change came in at -72.3%.  A total of 50,349 jobs cut announcements were made last month. This compared with a total of 181K last November.   Versus last month the announced job cuts fell from 55,679.  This represents a 9.5% MoM decline. The total jobs cut number was the lowest announced job cuts since December 2007. 

The number is congruent with the NFP estimate which is expected to show an improvement from last month. The employment situation is stabilizing for those with jobs. However, those who may still be out of work or underemployed, the pain may still be lingering (i.e. 10.2% unemployment rate and 16-17% underemployment rate)

3 Responses to “Challenger Job Cuts come in at -72.3% versus a year ago”

  1. Overheard on StockTwits: Gold Boom « StockTwits Network on December 2nd, 2009 8:08 am

    [...] job losses are stabilizing.  The next step will be [...]

  2. Joe Patrell on March 2nd, 2010 10:01 pm

    Please confirm that “YoY” stands for “Year ofe Year”.

    Please correct me.

    Joe

  3. Greg Michalowski on March 3rd, 2010 7:08 am

    Yes. Year on Year . MoM =Month on Month Greg

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