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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
US DATA
- Challenger job cuts surge 440% Y/Y in January to 103k for the highest Jan since 2009, and this time see contributions from wider than just tech unlike the eye-catching 417% Y/Y increase in November.
- In Nov, 53k of the 77k total layoffs were in tech whereas in Jan it was 42k of 103k total.
- As such, non-tech job cuts jumped from the 22k averaged in 2022 to 61k in January. Retail played a significant role, jumping from just 391 to 13k whilst financial firm cuts increased from 696 to 10.6k (both on a Y/Y basis).
- There are however two important caveats: i) ex-tech layoffs have occasionally seen one month spikes in the past, and ii) most notably, weekly initial jobless claims have shown no sign of this pick up through January, instead continuing to trend surprisingly lower.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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