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Challenger Hiring Announcements At Record Lows

US DATA
  • Challenger hiring announcements dropped even further in June to just 1.9k, the lowest of any month in the series history going back to 2004.
  • The three lowest on record have all come in the past seven months of data, with 3.0k in Dec and 4.2k in May.
  • The data have to be taken with some caution because September months are such an important seasonal month, but the charts are nevertheless striking having dropped to monthly increases even lower than those in 1H23.
  • As such, Challenger layoffs may have seen a trend stabilization in increases this year but the main adjustment by firms has been a further decline in hiring.

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