Challenger Gray & Christmas says U.S. retailers hired more than 420,000 people in November — up significantly from last year — and that strong Black Friday and Cyber Monday activity may lead to an above-average December, too.
Dec 5, 2011 11:25 AM
Job cuts in the technology sector fell 73 percent last year, showing the tech sector is recovering more quickly than other industries. The number of planned layoffs in tech fields fell to just below 47,000 in 2020, the lowest annual total for the sector since 2000, according to a report from employment-services firm Challenger, Gray & Christmas. Daily Finance reports on the figures, as well as expected hiring increases in the sector this year. In Nashville, demand that outpaces supply is already a problem.
Jan 24, 2011 2:50 PM
Bloomberg reports on the 2010 job cut statistics released by Challenger Gray & Christmas today. Firings were down 59 percent compared to the previous year, with December firings falling 29 percent compared to the same month in '09.
Employers announced 32,004 job cuts last month, the fewest since June 2000. While firings are slowing, job growth has been restrained, highlighting why Federal Reserve officials said they’ll move forward with a plan to purchase $600 billion in bonds to bolster the economy. It was “still a lackluster year for the overall job market,” John A. Challenger, chief executive officer of Challenger, Gray & Christmas, said in a statement. “Hiring in the private sector is expected to once again be slow and steady” in 2011, he said.
Jan 5, 2011 1:01 PM
Just 7 percent of people taking on new jobs last quarter relocated for that position, reports Challenger Gray & Christmas. That's a record low and a function of both the crummy housing market and companies' unwillingness to pay to move folks — and could have implications on the strength of the economy's rebound.
“Right now, demand for new workers is not at a level that would force companies to bring in talent from outside their region. However, as the local talent pool starts to become depleted as the economy improves, companies will be compelled to cast a wider recruiting net. Unfortunately, the immobility of the workforce may mean that some employers will have to delay expansion plans, thus slowing the recovery,” he said.
Oct 28, 2010 10:13 AM
Outplacement firm Challenger Gray & Christmas says the jobs growth of today's sluggish recovery is actually stronger than what the economy produced after the 1991 and 2001 recessions.
In both cases, the end of the recession was followed by a period of “jobless recovery” during which payrolls continued to lose jobs and the unemployment rate continue to increase. In 1991, the jobless recovery lasted about 15 months and following the 2001 downturn, it took about 19 months for the job market to reverse course,” said Challenger. “This recession also experienced a period of jobless recovery. However, an examination of several employment trends suggests that this jobless recovery may have lasted just six months and is now on a positive track.”
Aug 23, 2010 2:49 PM
Business start-up activity slowed in the first half of the year, with an average of 3.7 percent of job seekers opting to start thier own business — down from 7.6 percent in the first half of 2009. The survey results, from Challenger Gray & Christmas, incidate the lowest two-quarter the company has on record since it began tracking start-up activity in 1986.
"It is difficult to pinpoint the exact reason behind the decline in start-up activity among former managers and executives. On one hand, it could be that the job market has improved to the point that many do not feel compelled to take the risk of going it alone. Then there is the fragility of the recovery and the uncertainty that comes with it. Many small business owners are increasingly pessimistic about business conditions and still find it difficult to get a loan," said firm CEO John Challenger.
Jul 19, 2010 9:19 AM
Summer jobs are harder to come by this season. Employment for those aged 16 to 19 grew by just 497,000 in June, down 29 percent from the 698,000 teen jobs in June 2009. It's the lowest mid-summer job growth for this age group since 1951, according to outplacement consultancy Challenger, Gray & Christmas.
“This could end up being the worst teen summer job market in employment records going back to 1948,” said John A. Challenger, chief executive officer of global outplacement firm Challenger, Gray & Christmas, Inc. “With data now suggesting that consumers are pulling back on spending, it is unlikely that a late hiring surge will salvage the dismal summer job situation for the nation’s youngest workers."
Jul 7, 2010 1:47 PM
Though employers are still handing out pink slips, they're doing it less than this time last year, according to job cut numbers released today by outplacement consultancy Challenger Gray & Christmas. Though employers announced plans to cut 39,358 jobs in June, a 1.4 percent increase over May, it's the third month in a row with job cuts below 40,000. Year to date employers have announced about 297,700 job cuts, 67 percent fewer than the first half of 2009.
“Job cuts this year have declined for each of the top-five job-cutting industries. Even cuts in the government and non-profit sector are down, albeit not as dramatically as the other leading job-cut sectors. This certainly bodes well for the job market as we enter the second half of 2010,” said Challenger.
Jul 1, 2010 2:47 PM
Turnover in the chief executive officer suite was up nearly 24 percent in May, according to consultancy Challenger, Gray & Christmas, with 125 CEOs announcing their departures. It was the highest number of monthly departures since July of 2009, the firm said, when 126 CEOs took their leave.
Overall, the pace of CEO turnover is 12.7 percent ahead of last year, with 566 departures announce to date. Through May 2009, a total of 506 CEO changes had been recorded. At the current average of approximately 113 CEO exits per month, 2010 is on track to exceed 1,300 annual departures.The leading sector for CEO turnover, health care, had 17 CEOs announce departures in May, according to the firm. That brings the year to date health care total to 98.
Jun 10, 2010 7:24 AM
Does the NCAA tournament cost Corporate America? Chicago consultants Challenger, Gray and Christmas say yes, to the tune of $1.8 billion in lost productivity. The folks at Fark say that's a buncha baloney. So does the Stanford Review. It may be bad for productivity, but even John Challenger said it's probably worth it.
"In this economy, when many employees are under stress over fear of losing their jobs, this annual little distraction outweighs any potential negatives," Challenger said.Nothing like a little friendly trash-talking to up the work place bonhomie. Plus it's fun to needle The Boss about the underacheiving scrubs representing his alma mater, right?
Mar 16, 2010 7:45 AM