Alert: Challenger Job Cut Report Moved To Wednesday, Nov 6

JOB CUT REPORT MOVED TO WEDNESDAY, NOVEMBER 6

October Job Cut Report Moved Due To Delay Of Government Numbers

The most recent report issued by the Labor Department today for the employment situation in September shows little change in the state of the job market, as 11.3 million people are out of work in September, with 4.1 million out of work for 27 weeks or longer. Companies in the US created 148,000 jobs last month, down from the 169,000 recorded in August. 

Meanwhile, job cuts tracked by Challenger fell to their lowest level in three months, as U.S.-based employers announced plans to reduce payrolls by 40,289 in September.  That was down 20 percent from August, when job cuts reached a six-month high of 50,462.  Job cuts in the third quarter were up 25 percent from a year ago.  Overall, 128,452 planned cuts were announced during the three month period ending September 30, compared to 102,910 over the same stretch last year. Global outplacement consultancy Challenger, Gray & Christmas, Inc. will release its report on October job cuts on Wednesday, November 6, at 7:30 a.m. ET.

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October CEO Report Due Thursday, November 7

Turnover among the nation’s chief executive officers declined slightly in September as 107 planned CEO departures were reported, down 5.6 percent from the 113 in August. Third-quarter CEO departures totaling 348 were up 23 percent from the 282 announced during the same three-month span in 2012.   It is the highest quarterly since 352 CEO changes were recorded in the fourth quarter of 2008, the year Challenger tracked the most CEO changes on record with 1,484. Challenger has now tracked 949 CEO changes so far this year, 6.5 percent more than the 891 departures announced in the first nine months of 2012.  The Challenger report on September CEO turnover will be released Thursday, November 7 at 10:00 a.m. ET.

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