US employers announced 38,792 job cuts in December 2024, the least in five months, compared to 57,727 in November and 34,817 a year earlier. Considering full 2024, employers announced 761,358 job cuts, the most since 2020, and up 5.5% from 721,677 announced in 2023. Except for 2020, it is the highest total since 2009. Technology announced 133,988 cuts, the most out of all industries, although 20.3% lower than in 2023. Cuts in the auto sector on the other hand, rose 43.2% to 48,219. “Companies underwent extraordinary change in 2024 due to rapid technological advancement and shifting economic conditions. Most employers are anticipating additional uncertainty with the upcoming administration, which is leading to slower hiring and more layoffs in the short term from various sectors,” said Andrew Challenger, Senior Vice President of Challenger, Gray & Christmas, Inc. source: Challenger, Gray and Christmas, Inc.

Challenger Job Cuts in the United States decreased to 38792 Persons in December from 57727 Persons in November of 2024. Challenger Job Cuts in the United States averaged 65964.13 Persons from 1994 until 2024, reaching an all time high of 671129.00 Persons in April of 2020 and a record low of 14875.00 Persons in November of 2021. This page provides the latest reported value for - United States Challenger Job Cuts - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States Challenger Job Cuts - data, historical chart, forecasts and calendar of releases - was last updated on January of 2025.

Challenger Job Cuts in the United States decreased to 38792 Persons in December from 57727 Persons in November of 2024. Challenger Job Cuts in the United States is expected to be 70000.00 Persons by the end of this quarter, according to Trading Economics global macro models and analysts expectations.




Calendar GMT Reference Actual Previous Consensus TEForecast
2024-12-05 12:30 PM
Challenger Job Cuts
Nov 57.727K 55.597K 49.0K
2025-01-09 12:30 PM
Challenger Job Cuts
Dec 38.792K 57.727K 65K
2025-02-06 12:30 PM
Challenger Job Cuts
Jan 38.792K


Related Last Previous Unit Reference
ADP Employment Change 122.00 146.00 Thousand Dec 2024
Average Hourly Earnings MoM 0.40 0.40 percent Nov 2024
Average Hourly Earnings YoY 4.00 4.00 percent Nov 2024
Average Weekly Hours 34.30 34.20 Hours Nov 2024
Challenger Job Cuts 38792.00 57727.00 Persons Dec 2024
Continuing Jobless Claims 1867.00 1834.00 Thousand Dec 2024
Employed Persons 161141.00 161496.00 Thousand Nov 2024
Employment Cost Index 0.80 0.90 percent Sep 2024
Employment Cost - Benefits 0.80 1.00 percent Sep 2024
Employment Cost - Wages 0.80 0.90 percent Sep 2024
Employment Rate 59.80 60.00 percent Nov 2024
Full Time Employment 133385.00 133496.00 Thousand Nov 2024
Government Payrolls 33.00 38.00 Thousand Nov 2024
Hiring Plans Announcements 7999.00 11621.00 Persons Dec 2024
Initial Jobless Claims 201.00 211.00 Thousand Jan 2025
Job Layoffs and Discharges 1765.00 1748.00 Thousand Nov 2024
JOLTs Job Openings 8098.00 7839.00 Thousand Nov 2024
JOLTs Job Quits 3065.00 3326.00 Thousand Nov 2024
Job Quits Rate 1.90 2.10 Percent Nov 2024
Job Openings 7660.00 8261.00 Thousand Nov 2024
Jobless Claims 4-week Average 213.00 223.25 Thousand Jan 2025
Participation Rate 62.50 62.60 percent Nov 2024
Labour Costs 121.98 121.40 points Sep 2024
Long Term Unemployment Rate 0.98 0.95 percent Nov 2024
Manufacturing Payrolls 22.00 -48.00 Thousand Nov 2024
Minimum Wages 7.25 7.25 USD/Hour Dec 2023
Non Farm Payrolls 227.00 36.00 Thousand Nov 2024
Nonfarm Payrolls Private 194.00 -2.00 Thousand Nov 2024
Nonfarm Productivity 2.20 2.10 percent Sep 2024
Part Time Employment 27666.00 27943.00 Thousand Nov 2024
Population 335.89 334.13 Million Dec 2023
Productivity 114.48 113.85 points Sep 2024
Retirement Age Men 66.67 66.50 Years Dec 2024
Retirement Age Women 66.67 66.50 Years Dec 2024
U-6 Unemployment Rate 7.80 7.70 percent Nov 2024
Unemployed Persons 7145.00 6984.00 Thousand Nov 2024
Unemployment Rate 4.20 4.10 percent Nov 2024
Unit Labour Costs 0.80 -1.10 percent Sep 2024
Wage Growth 5.80 5.60 percent Nov 2024
Wages 30.57 30.48 USD/Hour Nov 2024
Wages in Manufacturing 28.30 28.18 USD/Hour Nov 2024
Youth Unemployment Rate 9.40 9.50 percent Nov 2024

United States Challenger Job Cuts
Challenger Job-Cut Report provides information on the number of announced corporate layoffs by industry and region.
Actual Previous Highest Lowest Dates Unit Frequency
38792.00 57727.00 671129.00 14875.00 1994 - 2024 Persons Monthly
NSA


News Stream
US Companies Cut the Fewest Jobs in 5 Months
US employers announced 38,792 job cuts in December 2024, the least in five months, compared to 57,727 in November and 34,817 a year earlier. Considering full 2024, employers announced 761,358 job cuts, the most since 2020, and up 5.5% from 721,677 announced in 2023. Except for 2020, it is the highest total since 2009. Technology announced 133,988 cuts, the most out of all industries, although 20.3% lower than in 2023. Cuts in the auto sector on the other hand, rose 43.2% to 48,219. “Companies underwent extraordinary change in 2024 due to rapid technological advancement and shifting economic conditions. Most employers are anticipating additional uncertainty with the upcoming administration, which is leading to slower hiring and more layoffs in the short term from various sectors,” said Andrew Challenger, Senior Vice President of Challenger, Gray & Christmas, Inc.
2025-01-09
US Job Cuts Increase
US employers announced 57,727 job cuts in November 2024, slightly higher than 55,597 in October and 45,510 a year earlier. The Automotive sector announced the most job cuts (11,506, the highest monthly total since April). “The Automotive industry is currently experiencing significant challenges, including potential tariffs affecting U.S. automakers with overseas factories, intensifying competition from Chinese electric vehicle (EV) manufacturers, and shifts in government subsidies for EVs. Additionally, leadership changes, such as the recent resignation of Stellantis CEO Carlos Tavares, are contributing to the sector’s volatility”, Andrew Challenger, Senior Vice President of Challenger, Gray & Christmas, Inc. For the year, companies have announced 722,566 job cuts, up 5.2% from 686,860 announced through November of last year. It is the fourth-highest November total since 2008.
2024-12-05
US Job Cuts Fall in October
US employers announced 55,597 job cuts in October 2024, below 72,821 in September, but above 50.9% from 36,836 in October 2023. Aerospace/Defense led the cuts (18,465), primarily on Boeing’s announcement to cut 17K jobs, followed by Retailers (7,696) and Consumer Products manufacturers (4,571). October’s total marks the seventh time this year job cut announcements are higher year-on-year. So far this year, companies have announced plans to cut 664,839 jobs, up 3.7% from the same period of 2023. It is the highest year-to-date total since 2020. Excluding 2020, it is the highest YTD total since 2009. Technology leads all sectors this year with 120,470 cuts. “Job openings have fallen and hiring is pretty flat at the moment. Companies appear to be in a holding pattern as we await election results and the potential regulatory and market environment that follows,” said Andrew Challenger, Senior Vice President and workplace expert for Challenger, Gray & Christmas, Inc.
2024-10-31