There were 71,482 layoff intentions announced in January, up from 45,094 in December, but down sharply from the 241,749 job cuts announced in January 2009, job placement firm Challenger, Gray and Christmas (CGC), Inc. said in a report released Wednesday. The data are not seasonally adjusted.
CGC announced layoffs is an alternate, less followed employment series. It is extremely volatile due to the fact that it is not seasonally adjusted. This is not a bad thing.
While the primary down trend has been broken, it could suggest nothing more than the first break of continued violent chop. The longer CGC announced layoffs chops with an upward drift, the more it looks as if the worm has turned in the labor market. This trend warrants a close eye in 2010.
Challenger, Grey, and Christmas Announced Layoffs (ALO) And YOY Change:
Source: imarketnews.com
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