Also in this playlist...
This transcript is automatically generated
All right thank you very much Jeff Flock.
And the big jobs report coming from the government tomorrow this morning we learned jobless claims rose last week but less than expected.
And we also an update on planned layoffs from challenger gray and Christmas John Challenger joins me now.
Chicago thanks for being here with us that John what number -- expected for layoffs -- when he reported for July layoffs.
-- we saw just about 37000.
Layoffs announced in the month of July that was down about 2% but relatively flat.
From where we were last month.
Layouts are not heavy right now companies are holding on to their people the problem is they're just not creating many jobs yet but you know that the layoffs were down 45%.
From the year ago level right I mean is that where now reduced to I think they're expecting -- 1101000 private sector jobs tomorrow.
Do we now instead after -- companies not to lay off instead of actually growing jobs that would come to.
Well certainly in this kind of -- labor market where a lot of business owners.
And and managers are saying we just don't know what the future is going to bring we're gonna be cautious -- we've got the man some demand not heavy demand.
For our goods and services so we'll go -- what we have.
But the idea of going out say and developing a new product and hiring people out in front of that opening up -- -- market they're not doing much of that because they don't wanna take the risk.
Yeah we just read chart showing the computers.
Transportation retail among the biggest areas into making the biggest cuts.
Of what are your layoffs numbers tell you about what you think the government -- report tomorrow on private sector jobs that 110 K number we'll be hired.
Now I don't think so I think we're probably somewhere around that hundred K mark.
That's really not enough to drive unemployment down you need higher numbers and that we did see some.
Very positive unemployment claims today those numbers at 365.
Plus on the moving average suggests that if it continues to fall.
And I and that's a loss we've seen in four months that might set the stage for that September rally that's happened the last couple of years in the jobs market as things seem to get going again in the fourth quarter now layoffs.
Interest in the also get going often the last part of the -- we're likely -- see -- go up -- companies that haven't done well start -- make decisions about the laughs are not making now in the summer.
I'd -- baby term thank -- much John Challenger.
Filter by section