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  • Challenger Job Cuts in the US fell by 56% in August.
  • US Dollar Index clings to daily gains around 93.00 after the data.

Planned job cuts in the US-based employers declined by 56% from 262,649 in July to 115,762 in August, Challenger Gray & Christmas announced in its latest Job Cut Report on Thursday.

Commenting on the report, “the leading sector for job cuts last month was transportation, as airlines begin to make staffing decisions in the wake of decreased travel and uncertain federal intervention,” said Andrew Challenger, senior vice president at Challenger, Gray, per Reuters. “An increasing number of companies that initially had temporary job cuts or furloughs are now making them permanent. 

Market reaction

The US Dollar Index largely ignored this data and was last seen gaining 0.4% on the day at 93.02.

Expert score

5

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