Challenger announces lowest January job cuts ever, since they began taking data in 1993

The recovery seems to finally be taking place as can be witnessed in the Challenger job cut report.  Employers only announced 38,519 jobs in January.  That is the lowest number since they have been keeping track starting in 1993. 

This could be a good sign for the millions of unemployed across the country.  It seems companies have finished their blood letting.  Real hiring should start to pick up from its current holding pattern. Via Challenger:
The 38,519 job cuts last month represents the lowest January total since Challenger began tracking monthly layoff announcements in 1993. Historically, January is the heaviest job-cut month. From 1993 through 2010, employers announced an average of 104,560 job cuts to start the year. October, the next largest job-cut month, saw an average of 84,218 cuts over the same period.

Source: Econoday
“It is not unusual to see job cuts increase in January. In fact, 2011 marks the fifth consecutive year and the tenth out of the last twelve in which January job cuts surpassed the December total. What made this January figure so unusual is that it was so low. Even in the 1990s, when annual job cuts were relatively low, January still averaged more than 74,000 job cuts,” said John A. Challenger, chief executive officer of Challenger, Gray & Christmas.


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