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No Further Escalation In Challenger Layoffs

US DATA
  • Challenger job cut announcements amounted to 64.8k in April, -3% Y/Y compared to the 67.0k of Apr’23.
  • It’s a good number following the 1% Y/Y increase in March, seeing as Mar’23 saw the last of the particularly large tech layoffs and had been biasing recent Y/Y rates up until Mar’24 lower.
  • Ex-tech layoffs meanwhile increased 8% Y/Y after a particularly strong 51% Y/Y in March from what had been a spike in financial activity-related layoffs.

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