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Posted May 02, 2013 by

Fewer Job Cuts in April But Sequestration, Consumer Spending Are Concerns

John Challenger of Challenger, Gray & Christmas

John Challenger of Challenger, Gray & Christmas

Job cuts fell to their lowest level since December, as U.S. employers announced plans to trim payrolls by 38,121 in April, according to the latest report on downsizing activity released Thursday by global outplacement consultancy Challenger, Gray & Christmas, Inc.

April job cuts were 23 percent lower than March, when announced layoffs totaled 49,255.  They were 6.0 percent lower than the 40,559 planned job cuts announced in April 2012.  April represents the lowest job-cut month since last December, when 32,556 were tracked by Challenger. (more…)

Posted April 04, 2013 by

Increased Layoffs in Q1 Led by Retail, Government Woes

John Challenger of Challenger, Gray & Christmas

John Challenger of Challenger, Gray & Christmas

The nation’s employers reported job cuts totaling 49,255 in March, a decline of 11 percent from the 55,356 cuts announced in February, according to the latest report on downsizing activity released Thursday by global outplacement consultancy Challenger, Gray & Christmas, Inc.  Despite the decline, quarterly job cuts reached their highest level since 2011.

March job cuts were 30 percent higher than a year ago, when employers announced plans to shed 37,880 workers from their payrolls.  This marks the second consecutive month and the fourth time in the last six months that the job-cut total was higher than the year-ago figure.

Employers have now announced 145,041 job cuts through the first three months of 2013.  That 5.6 percent higher than the previous quarter’s 137,361 job cuts and 1.4 percent higher than the 143,094 job cuts announced in the first quarter of 2012.  The first-quarter total is, in fact, the highest quarterly tally since 233,258 job cuts were tracked in the third quarter of 2011. (more…)

Posted April 03, 2013 by

Private Sector Employment Increased 158,000 in March

Mark Zandi, chief economist of Moody's Analytics

Mark Zandi, chief economist of Moody’s Analytics

Another good month of employment reports, this time from ADP and Moody’s Analytics. The report, which is derived from ADP’s actual payroll data, measures the change in total nonfarm private employment each month on a seasonally-adjusted basis. Revisions to job gains in the two prior months were offsetting; February’s gain of 198,000 jobs was revised up by 39,000 to 237,000, and January’s 215,000 gain was revised down by 38,000 to 177,000.

Goods-producing employment rose by 7,000 jobs in March, its slowest pace of growth in six months. Construction added no net jobs over the month; this follows average monthly gains of 29,000 in the three months prior. Meanwhile, manufacturers added 6,000 jobs.  (more…)

Posted March 13, 2013 by

Sequestration Far Worse Than March Madness for Job Numbers

John Boehner

U.S. House of Representatives Speaker John Boehner

With the first round of the 2013 NCAA Division 1 men’s basketball championship tournament set to tip off next week, the nation’s employers should be readying themselves for the inevitable drop in productivity that coincides.  One new survey found that nearly one-third of workers spend at least three hours per day following the Tournament during work hours.

In the annual “study” hated by working basketball fans everywhere, global outplacement firm Challenger, Gray & Christmas, Inc., estimates that March Madness will cost American companies at least $134 million in “lost wages” over the first two days of the Tournament, as an estimated 3.0 million employees spend one to three hours following the basketball games instead of working.

“At the end of the day, March Madness will not even register as a blip in the overall economy.  Sequestration is going to have a far bigger impact.  Will March Madness even have an effect on a company’s bottom line?  Not at all,” said John A. Challenger, chief executive officer of Challenger, Gray & Christmas. (more…)

Posted March 07, 2013 by

Federal Government Budget Woes Lead to Woes in Job Markets

John Challenger of Challenger, Gray & Christmas

John Challenger of Challenger, Gray & Christmas

Planned job cuts increased for the second consecutive month in February as U.S.-based employers announced workforce reductions totaling 55,356, up 37 percent from 40,430 in January, according to the report released Thursday by global outplacement consultancy Challenger, Gray & Christmas, Inc.

The February total was 7.0 percent higher than the 51,728 job cuts announced the same month a year ago.  It was the highest monthly tally since last November, when announced layoffs reached 57,081.  (more…)