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Holiday hiring got off to its strongest start in 14 years, as retail employment grew by 159,500* in October, according to an analysis of the latest Bureau of Labor Statistics data by global outplacement firm Challenger, Gray & Christmas, Inc.
The 159,500 net new jobs in retail last month marks a 6.7 percent increase from October 2012, when retailers increased their payrolls by 149,400. It was the most new hires in the first month of the annual holiday hiring period since 1999, when retail employment expanded by 172,200 in October.
The strong start bodes well for a holiday hiring season that stretches from October through December, with the heaviest retail workforce additions, typically occurring in November. Last year, the three-month hiring period resulted in 751,800 new jobs being added by retailers; the most since 2000, when retailers added 788,200 workers during the final three months of the year.
Last year’s holiday hiring binge brought retail employment in the sector to 15,538,300 in December, the month in which retail employment generally reaches its annual peak. That was the highest number of retail workers in December, since 2007, when employment reached 16,156,400.
Turnover among the nation’s chief executive officers declined slightly in October as 104 planned CEO departures were reported, down 2.8 percent from the 107 in September, according to a report released Thursday by global outplacement consultancy Challenger, Gray & Christmas, Inc.
The October total was down 3.7 percent from the same month a year ago when 108 were recorded. Challenger has now tracked 1,053 CEO changes so far this year, 5.3 percent more than the 999 departures announced in the first ten months of 2012.
Due to continued changes in the health care landscape, this sector led all industries in October with 29 CEO departures, 25 of which came from hospitals and hospital systems. Of those CEOs, nine went on to serve as high-level executives of other hospitals, usually as CEO. To date, the health care sector has now seen 224 CEO departures in 2013, which is the highest turnover among all sectors tracked by Challenger. Continue reading
Check out who is hiring for the season. Let us know if there are others!
The pace of downsizing remained relatively flat in October, as the nation’s employers announced plans to cut 45,730 jobs from their payrolls during the month. That was up 13.5 percent from 40,289 job cuts recorded in September, according to the latest report on monthly job cuts released Wednesday by global outplacement consultancy Challenger, Gray & Christmas, Inc.
The October job-cut total was down 4.2 percent from the same month a year ago, when 47,724 planned cuts were announced. This marks the first time in five months that the job-cut total was lower than the comparable period a year ago.
Employers have now announced 433,114 job cuts since January 1. That is virtually unchanged (down 0.14 percent) from the 433,725 job cuts announced through ten months of 2012. At the current pace, annual job cuts are positioned to come in slightly below the 2012 year-end total of 523,362, which was the lowest 12-month figure since 1997, when 434,350 job cuts were tracked by Challenger.
The pharmaceutical industry saw the heaviest job cutting in October, with 10,585 job cuts announced. That is the largest one-month job-cut total for this sector since July 2011, when 13,493 job cuts were announced. In both October and July 2011, the majority of the announced job cuts came from pharmaceutical giant Merck, which, like many other pharmaceutical companies, has had to adjust research focus and workforce levels toward drugs with the highest potential to win regulatory approval and achieve successful sales levels.