Wednesday, October 6, 2010
According to the folks at Challenger, Gray & Christmas, announced corporate layoffs last month remained at close to the lowest level registered in the past 11 years. By now it's obvious that Corporate America has all but finished its downsizing. So the next shoe to drop will be a renewed interest in hiring. Signs of this are already evident in the strong rise in temp hires, as noted in yesterday's post. And according to Challenger, announced hiring plans last month were among the largest they have recorded in the past six years (bottom chart). And don't forget that through August we saw 1.8 million new jobs created year to date according to the household survey of employment. This Friday's jobs numbers should shed further light on the subject, and I expect it to be favorable.
Posted by Scott Grannis at 8:13 AM