It's The Economy Stupid: Job Cuts Lowest since 2000

Once again, good economic news.

 

The Challenger Job Cuts report says U.S. December planned layoffs plunged to the lowest level since 2000.  Employers announced 30,623 layoffs last month, down from 45,314 in November, according to the report from consultants Challenger, Gray & Christmas, Inc.  The December figure fell 5.9 percent from a year earlier, when planned layoffs totaled 32,556, and marked the third straight month that announced workforce reductions dropped year over year.

 

The Royal Bank of Canada said its U.S. Consumer Outlook index increased again to 51.5 in January from 49.7 in early December and 47.0 in November.   The January level is the highest since June 2013.  As in December, consumers remain upbeat about the labor markets and see little change in price pressures.

 

Initial Jobless Claims came in below economists’ expectations at 330 Thousand.  Economists consensus estimate was for the number to be 335 Thousand.  However, the prior period’s number was revised upward to 345 Thousand from 339 Thousand.  Continuing Jobless Claims came in higher than economists’ expectations at 2865 Thousand.  .  Economists consensus estimate was for the number to be 2850 Thousand.  However, the prior period’s number was revised downward to 2815 Thousand from 2833 Thousand. 

 

Economic Event	Period	Economic Survey	Actual Reported	Original Prior	Revised Prior
RBC Consumer Outlook	Jan		51.5	49.7
Challenger Job Cuts	Dec		-5.90%	-20.60%
Initial Jobless Claims	Jan 4	335K	330K	339K	345K
Continuing Claims	Dec 28	2850K	2865K	2833K	2815K

 

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“Volvo, Video, Velcro:  I came, I saw, I stuck around.”

 

John Broussard

Assistant State Treasurer

Chief Investment Officer

State of Louisiana

Department of the Treasury

225-342-0013

jbroussard@treasury.state.la.us