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US DATA: Challenger Net Hiring Almost In Balance In 2024

US DATA
USEM BulletFixed Income BulletsData BulletBulletMarketsEmerging Market NewsForeign Exchange BulletsNorth America

Challenger job cut announcements continued their recent run of Y/Y increases in December, and were at the high end of recent Decembers, but don't show any signs of a sharp increase. 

  • Challenger job cuts increased 11% Y/Y to 38.8k in December, rounding out a year that saw Y/Y job cut announcements stabilize/fall a touch in 1H24 before climbing again in 2H24.
  • Hiring announcements meanwhile jumped to 8k but Y/Y figures can be misleading outside of the key Sep/Oct window for the series.
  • The annual figures give a better indication of broad trend for both. Job cuts increased 5.5% in 2024 as they more modestly extended the almost doubling in cut announcements seen in 2023. The 761k cut announcements in 2024 was the highest since the pandemic and before that 2009.
  • Hiring announcements meanwhile broadly stabilized in 2024 after prior declines, inching 1% lower to 770k for its lowest since 2015.
  • The net of hiring announcements and job cuts narrowed to just 8.6k in 2024 having shifted broadly to balance after 1.4m in 2021, 1.1m in 2022 and 58k in 2023. It was last negative in 2011. 
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Challenger job cut announcements continued their recent run of Y/Y increases in December, and were at the high end of recent Decembers, but don't show any signs of a sharp increase. 

  • Challenger job cuts increased 11% Y/Y to 38.8k in December, rounding out a year that saw Y/Y job cut announcements stabilize/fall a touch in 1H24 before climbing again in 2H24.
  • Hiring announcements meanwhile jumped to 8k but Y/Y figures can be misleading outside of the key Sep/Oct window for the series.
  • The annual figures give a better indication of broad trend for both. Job cuts increased 5.5% in 2024 as they more modestly extended the almost doubling in cut announcements seen in 2023. The 761k cut announcements in 2024 was the highest since the pandemic and before that 2009.
  • Hiring announcements meanwhile broadly stabilized in 2024 after prior declines, inching 1% lower to 770k for its lowest since 2015.
  • The net of hiring announcements and job cuts narrowed to just 8.6k in 2024 having shifted broadly to balance after 1.4m in 2021, 1.1m in 2022 and 58k in 2023. It was last negative in 2011. 
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