Gary Punzi’s Post

Released Today - April #ChallengerReport shows U.S.-based employers announced 64,789 cuts in April, a 28% decrease from one month prior, and down 3.3% from the same month in 2023. 
 “The labor market remains tight. But as labor costs continue to rise, companies will be slower to hire, and we expect further cuts will be needed. This low April figure may be the calm before the storm," said Andrew Challenger, Senior Vice President of Challenger, Gray & Christmas, Inc. https://bit.ly/3QqRZUO #layoffs #layoffs2024 #layoffsandjobreductions #economicoutlook #economictrends #costcutting #jobcuts⠀⠀

Layoffs flat but job searches are longer. Announced layoffs in April at 65k was down slightly from same month in 2023 according to report from #outplacement firm Challenger, Gray & Christmas, Inc. However, average duration of #unemployment from the Bureau of Labor Statistics was 21.6 weeks in March, longer by 13% compared to 19.1 weeks during the same month last year. #jobs #employment #economy #humanresources #layoffs

Released Today - April #ChallengerReport shows U.S.-based employers announced 64,789 cuts in April, a 28% decrease from one month prior, and down 3.3% from the same month in 2023. 
 “The labor market remains tight. But as labor costs continue to rise, companies will be slower to hire, and we expect further cuts will be needed. This low April figure may be the calm before the storm," said Andrew Challenger, Senior Vice President of Challenger, Gray & Christmas, Inc. https://bit.ly/3QqRZUO #layoffs #layoffs2024 #layoffsandjobreductions #economicoutlook #economictrends #costcutting #jobcuts⠀⠀

Are you prepared for the upcoming job market? An insightful article on the job market forecast for the remainder of the year. Do you have an action plan to ride the ups and downs? It helps to be prepared in advance, just like you would for bad weather ahead.

The latest data from the Labor Department presents a nuanced view of the #US employment landscape. In February, job openings inched higher, painting a picture of #resilience and stability in the labor market. However, amidst this positivity, #layoffs also saw a slight uptick, marking a potential shift in dynamics. #labordepartment #labormarket #jobs

Released today - May #ChallengerReport shows job cuts announced by US-based companies remained flat last month, with a 1.5% decrease from the cuts announced one month prior. “Job cuts remained flat in May as companies assess performance and make plans for Q3 and Q4. Meanwhile, hiring announcements are at their lowest levels in a decade. The typical churn in a healthy labor market appears to be stalling,” said Andrew Challenger, Senior Vice President of Challenger, Gray & Christmas, Inc. https://lnkd.in/gS5Njx3M #layoffs #layoffs2024 #layoffsandjobreductions #economicoutlook #economictrends #costcutting #jobcuts⠀⠀

A good article to read on the job market forecast for 2024. The upcoming job market for the remainder of this year could be challenging. Check out these posts below to see what outplacement firms are observing.

Released today - May #ChallengerReport shows job cuts announced by US-based companies remained flat last month, with a 1.5% decrease from the cuts announced one month prior. “Job cuts remained flat in May as companies assess performance and make plans for Q3 and Q4. Meanwhile, hiring announcements are at their lowest levels in a decade. The typical churn in a healthy labor market appears to be stalling,” said Andrew Challenger, Senior Vice President of Challenger, Gray & Christmas, Inc. https://lnkd.in/eTwynRh3 #layoffs #layoffs2024 #layoffsandjobreductions #economicoutlook #economictrends #costcutting #jobcuts⠀⠀

Released today - May #ChallengerReport shows job cuts announced by US-based companies remained flat last month, with a 1.5% decrease from the cuts announced one month prior. “Job cuts remained flat in May as companies assess performance and make plans for Q3 and Q4. Meanwhile, hiring announcements are at their lowest levels in a decade. The typical churn in a healthy labor market appears to be stalling,” said Andrew Challenger, Senior Vice President of Challenger, Gray & Christmas, Inc. https://lnkd.in/eMmV8nXy #layoffs #layoffs2024 #layoffsandjobreductions #economicoutlook #economictrends #costcutting #jobcuts⠀⠀

Released Today: February #ChallengerReport shows job cuts up 3% from one month prior and 9% higher than in the same month in 2023. “As we navigate the start of 2024, we're witnessing a persistent wave of layoffs. Businesses are aggressively slashing costs and embracing technological innovations, actions that are significantly reshaping staffing needs," stated Andrew Challenger, labor and workplace expert and Senior Vice President of Challenger, Gray & Christmas, Inc. https://lnkd.in/d4NHrJXQ #layoffs #layoffs2024 #layoffsandjobreductions #economicoutlook #costcutting #jobcuts⠀