ARTICLES, BLOGS & VIDEOS

The latest news, trends and information to help you with your recruiting efforts.

Posted October 04, 2012 by

Layoffs Down 19% From 2011 and Lowest Since 1997

Downsizing activity remained relatively flat in September as US-based employers announced plans to cut 33,816 jobs from their payrolls during the month.  That was up 4.9 percent from a 20-month low of 32,239 job cuts in August, according to the latest report released Thursday by global outplacement firm Challenger, Gray & Christmas, Inc.

Last month’s total was 71 percent lower than a year ago, when planned job cuts unexpectedly surged to a 29-month high of 115,730.   It was, in fact, the lowest September total since 1997 when only 20,698 were announced.

John Challenger of Challenger, Gray & ChristmasSeptember brings to an end one of the slowest job-cut quarters in over a decade.  Employers announced 102,910 job cuts in the third quarter, down 27 percent from the previous quarter (139,997), and 56 percent lower than the third quarter of 2011 (233,258).  It was the lowest quarterly total since the second quarter of 2000, when planned layoffs numbered 81,568.

Employers have now announced 386,001 planned job cuts in 2012, which is 19 percent fewer than the 479,064 job cuts recorded by this point last year.  One has to go back to 1997 to find fewer job cuts announced through the first nine months of the year.  That year, employers announced 281,496 job cuts through September.

Contributing to the decline in monthly job cut figures is the significant drop-off in the number of layoffs announced by the government sector.  These employers announced just 14,186 job cuts through September, compared to 119,027 by this point in 2011.  (more…)

Posted September 11, 2012 by

1.8 million more people working in July 2012 than July 2011

Bureau of Labor StatisticsThere were 3.7 million job openings on the last business day of July, little changed from June, the U.S. Bureau of Labor Statistics reported today. The hires rate (3.2 percent) and separations rate (3.0 percent) were also little changed in July. This release includes estimates of the number and rate of job openings, hires, and separations for the nonfarm sector by industry and by geographic region.

Job Openings

The number of job openings in July was 3.7 million, little changed from June. The number of openings was little changed in all industries except health care and social assistance, where the number decreased. The number of openings was also little changed in all four regions in July. The level of total nonfarm job openings in July was up from 2.4 million at the end of the recession in June 2009. (Recession dates are determined by the National Bureau of Economic Research.) (more…)

Posted August 02, 2012 by

45% Fewer Layoffs in July 2012 Than July 2011

John Challenger of Challenger, Gray & ChristmasPlanned layoffs declined for the second consecutive month in July, as employers announced job cuts totaling 36,855, down 2.0 percent from 37,551 in June, according to the latest job cuts report released Thursday by global outplacement consultancy Challenger, Gray & Christmas, Inc.

Job cuts last month were down 45 percent from a year ago, when employers announced plans to cut 66,414 workers from their payrolls in July. This is just the third time this year employers announced fewer cuts than the same month in 2011.

Overall, employers have announced 319,946 job cuts so far this year. The pace of downsizing is virtually even with a year ago; up just 2.5 percent from the 312,220 planned layoffs announced from January through July. (more…)

Posted August 01, 2012 by

Private Sector Added 163,000 More Jobs in June

ADP National Employment ReportEmployment in the U.S. nonfarm private business sector increased by 163,000 from June to July, on a seasonally adjusted basis. The estimated gain from May to June was revised down slightly, from the initial estimate of 176,000 to 172,000. Public sector layoffs — particularly at the state and local level — have been the primary drag on the employment numbers for months. These public sector numbers won’t be known until Friday’s report by the U.S. Bureau of Labor Statistics. (more…)

Posted July 16, 2012 by

Despite 30,000 Job Cuts by HP, Still Shortage of Professionals in Digital and Tech

John Challenger of Challenger, Gray & ChristmasPlanned layoffs that will impact 30,000 workers at computer giant Hewlett-Packard helped push job cuts announced by technology-sector firms to their highest level in three years, according to a report on tech-sector downsizing released Monday by global outplacement firm Challenger, Gray & Christmas, Inc.

Technology firms, including those in computer, electronics, and telecommunications, combined to announce 51,529 job cuts in the first half of 2012, a 260 percent increase from the 14,308 cuts announced during the same period a year ago.  The midyear total is, in fact, 39 percent higher than the 2011 yearend total of 37,038.  It is the largest midyear total since 2009, when the sector announced 118,108 job cuts in the first six months of the year.

The surge in tech-sector job cuts occurred amid an increase in overall job cuts.  However, the 283,091 job cuts announced across all industries in the first half of 2012 were up just 15 percent from the 245,806 total industry job cuts at the same point last year. (more…)

Posted July 05, 2012 by

Good Economic News: Manufacturers Resist Layoffs Despite Sluggish Sales

Planned layoffs fell to a 13-month low in June, as U.S.-based employers announced job cuts totaling 37,551 during the month.  That is down 39 percent from the 61,887 announced job cuts in May, according to the latest report on downsizing activity released Thursday by global outplacement consultancy Challenger, Gray & Christmas, Inc.

The June total is 9.4 percent lower than the 41,432 planned job cuts announced during the same month a year ago.  It is the lowest monthly total since May 2011, when employers announced plans to eliminate 37,135 workers from their payrolls. (more…)

Posted May 03, 2012 by

Job Cuts Up 11.2% Largely Due to Government, Education Layoffs

John Challenger of Challenger, Gray & ChristmasThe pace of downsizing remained virtually unchanged in April, as U.S.-based employers announced planned job cuts totaling 40,559 during the month. That is a 7.1 percent increase from 37,880 job cuts announced in March, according to the latest job-cut report released Thursday by global outplacement firm Challenger, Gray & Christmas, Inc.

April job cuts were up 11.2 percent from the same month a year ago, when employers announced 36,490 planned cuts, the lowest monthly total recorded in 2011. (more…)

Posted March 08, 2012 by

Planned Layoffs Virtually Unchanged in February

The number of planned layoffs remained virtually unchanged in February, as U.S. employers announced workforce reductions totaling 51,728 during the month, down slightly (3.3 percent) from the 53,486 layoffs recorded in January, according to the latest job-cut report released Thursday by global outplacement firm Challenger, Gray & Christmas, Inc.

Last month’s total was up 2.0 percent from a year ago, when employers announced 50,702 job cuts in February. Overall, the pace of downsizing is up 18 percent over last year, with 105,214 job cuts announced through the first two months, compared to 89,221 during the same period in 2011.

What may stand out most about 2012 job cuts so far is not the number of layoffs, but the source. Last year, job cuts in the first two months were dominated by the government sector; a trend that would continue throughout 2011. Through the first two months of 2012, job cuts have been concentrated in consumer products and transportation.

Consumer products firms lead all others in job cuts, having announced 16,320 this year, up 351 percent from the 3,621 announced at this point a year ago. The second-ranked transportation sector has seen job cuts increase 616 percent from 2,211 a year ago to 15,835 in 2012. Together, these two sectors account for 32,155 job cuts or 30.6 percent of the year-to-date total. (more…)

Posted February 14, 2012 by

Looking for a New Job? Small Firms Hire More After Recessions.

The conventional wisdom has been that small organizations create most of the jobs in this country yet there’s been little reliable data to substantiate that. Until now.

The U.S. Bureau of Labor Statistics just released a comprehensive study showing that since 1990, firms with 500 or more employees have accounted for more than 40 percent of total private employment and that the percentage of private employment accounted for by each size class has remained quite stable over time. Yet during post-recession times like we’re currently in, job seekers should look first to small organizations with one to 49 employees as they have led larger firms at cyclical turning points. In other words, small organizations hire more coming out of a recession but also lay off more going into a recession. (more…)

Posted February 02, 2012 by

Job Cuts in January 2012 Up 39% Versus January 2011

Last month, the nation’s employers announced plans to cut 53,486 jobs from their payrolls. That was the largest monthly layoff total since 115,730 job cuts were announced last September, according to job cut report released Thursday by global outplacement firm Challenger, Gray & Christmas, Inc.

The January total was 28 percent higher than the 41,785 job cuts announced in December. It was 39 percent higher than January 2011, when employers announced just 38,519 planned cuts. (more…)