FREE NEWSLETTER: Econintersect sends a nightly newsletter highlighting news events of the day, and providing a summary of new articles posted on the website. Econintersect will not sell or pass your email address to others per our privacy policy. You can cancel this subscription at any time by selecting the unsubscribing link in the footer of each email.

posted on 01 October 2015

September 2015 Job Cuts High In Computer Sector. Q3 Job Cuts Heaviest Since 2009.

from Challenger Gray and Christmas

The third quarter ended with a surge in job cuts, as U.S.-based employers announced plans to shed 58,877 in September, a 43 percent increase from the previous month.

The September total was third largest of the year behind July (105,696) and April (61,582). It was 93 percent higher than the 30,477 planned layoffs announced the same month a year ago.

In all, 205,759 job cuts were announced in the third quarter, making it the largest job-cut quarter since the third quarter of 2009, when planned layoffs totaled 240,233.

The Q3 total was 40 percent higher than the previous quarter's 181,213 job cuts. It was 75 percent higher than the third quarter of 2014, when 117,374 job cuts were announced.

For the year, employers have announced 493,431 planned layoffs, 36 percent more than the 363,408 cuts tracked from January through September a year ago. The year-to-date total is actually 2.0 percent higher than the 2014 year-end total of 483,171. Said John A. Challenger, chief executive officer of Challenger, Gray & Christmas:

Job cuts have already surpassed last year's total and are on track to end the year as the highest annual total since 2009, when nearly 1.3 million layoffs were announced at the tail-end of the recession,"

While job cuts over the first two quarters of 2015 were dominated by oil-related industries, recent downsizing activity has been concentrated in the public sector and the computer industry.

The computer industry saw the heaviest job cuts in September, as perpetually struggling Hewlett-Packard announced plans to reduce its workforce by as many as 30,000. In all, the industry saw 32,500 job cuts during the month. That is the highest one-month total for this industry since IBM announced 60,000 job cuts in 1993.

To date, computer firms have announced 58,874 job cuts, just shy of the 59,528 computer-industry jobs cuts in all of 2014.

For the year, the biggest job cutting sector is energy, which has announced 72,708 job cuts since January 1. Most of the energy cuts occurred in the first half of year, with just 12,208 job cuts recorded in the latest quarter. Said Challenger:

While oil cuts have slowed, the issues that helped drive oil prices down in the first place are still impacting the economy. We continued to see the ripple effect of low demand last month when heavy-equipment maker Caterpillar announced plans to reduce its workforce over the next year- and-a-half.

We could see more fallout, which appears to have its origins in China, which after years of building up its national infrastructure appears to now have far too much capacity. As a result, manufacturing plants, retail stores and even entire apartment building are sitting empty.

Fortunately, the American economy continues to improve, which should blunt the impact of the Chinese slowdown. Even with a strong US economy, the situation in China will not go unnoticed.

>>>>> Scroll down to view and make comments <<<<<<

Permanent link to most recent post on this topic

Click here for Historical Releases Listing

Make a Comment

Econintersect wants your comments, data and opinion on the articles posted.  As the internet is a "war zone" of trolls, hackers and spammers - Econintersect must balance its defences against ease of commenting.  We have joined with Livefyre to manage our comment streams.

To comment, using Livefyre just click the "Sign In" button at the top-left corner of the comment box below. You can create a commenting account using your favorite social network such as Twitter, Facebook, Google+, LinkedIn or Open ID - or open a Livefyre account using your email address.

You can also comment using Facebook directly using he comment block below.

Econintersect Economic Releases


Print this page or create a PDF file of this page
Print Friendly and PDF

The growing use of ad blocking software is creating a shortfall in covering our fixed expenses. Please consider a donation to Econintersect to allow continuing output of quality and balanced financial and economic news and analysis.

Take a look at what is going on inside of
Main Home
Analysis Blog
Rising Tide Does Not Lift All Ships
Comments on Feyerabend’s ‘Against Method’, Part II
News Blog
New Seasonal Outlook Updates from NOAA and JAMSTEC - Let's Compare Them.
Infographic Of The Day: Driving Into A Battery Powered Future
Earthquake Risk - Location Matters
Investor Alert: Be On The Lookout For Investment Scams Related To Hurricane Matthew
Lost In Translation: Five Common English Phrases You May Be Using Incorrectly
The Size And Scope Of Samsung's Business
Immigration Is The Top Worry For Britons
People Killed By Russian Airstrikes In Syria
Have You Taken These 4 Simple Steps To Improve Your Trading?
14 October 2016: ECRI's WLI Growth Index Insignificantly Declines
Mom Breaks Down In Tears When Son With Autism Meets Service Dog
Rail Week Ending 15 October 2016 Paints A Negative Economic View
What Is The New Normal For U.S. Growth?
Investing Blog
FinTech Is Taking A Bite Out Of Banks
Options Early Assignment - Should You Worry?
Opinion Blog
US 2016 Election: Will US-China Relations Change
Prop. 51 Versus A State-Owned Bank: How California Can Save $10 Billion On A $9 Billion Loan
Precious Metals Blog
How Will The Election Outcome Impact Precious Metals?
Live Markets
21Oct2016 Market Close: Major US Indexes Close Flat On Low Volume, Crude Prices Resume Climb, US Dollar Stabilizes In Mid 98 Handle, Yes, Most Investors Are Worried Which Way This Market Will Go
Amazon Books & More

.... and keep up with economic news using our dynamic economic newspapers with the largest international coverage on the internet
Asia / Pacific
Middle East / Africa
USA Government

Crowdfunding ....



Analysis Blog
News Blog
Investing Blog
Opinion Blog
Precious Metals Blog
Markets Blog
Video of the Day


Asia / Pacific
Middle East / Africa
USA Government

RSS Feeds / Social Media

Combined Econintersect Feed

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution



  Top Economics Site Contributor TalkMarkets Contributor Finance Blogs Free PageRank Checker Active Search Results Google+

This Web Page by Steven Hansen ---- Copyright 2010 - 2016 Econintersect LLC - all rights reserved