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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 cut announcements of 82.3k marked a -20% Y/Y decline in January, the second consecutive month at -20% Y/Y and having fallen an average -17% Y/Y through Q4.
- The Y/Y decline is again helped by favorable base effects stemming from the tech sector which saw layoffs surge in late 2022/early 2023. January’s 15.8k compared to 41.8k in Jan’23 (-62% Y/Y).
- Layoffs excluding tech companies meanwhile increased 9% Y/Y after the 35% Y/Y averaged in Q4, i.e. still increasing but at a far more modest pace than 1H23 when they surged 211% Y/Y in Q1 and 130% Y/Y in Q2.
- Individual sector data can be noisy month-to-month, but financial sectors provided the largest single contribution to January’s layoffs (23.2k, 119% Y/Y).
- The data could be seen as pointing to some mild upside risk to weekly jobless claims data as these announcements feed through, but it's starting from a very low base with initial claims averaging just 202k over the past four weeks.
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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