US: Challenger Job Cuts decline to 15,723 in August, lowest since June 1997

Challenger Job Cuts declined to 15,723 in August.
US Dollar Index stays in the negative territory below 92.50.

Eren Sengezer FXStreet

Planned job cuts in the US-based employers decline to 15,723 in August from 18,942 in July, Challenger Gray & Christmas announced in its latest Job Cut Report on Thursday. This marked the lowest print since June 1997.

Commenting on the data, "companies are much more concerned about their talent getting poached than with finding ways to cut staff," said Andrew Challenger, Senior Vice President of Challenger, Gray & Christmas, Inc. "They are in full retention mode."

Market reaction

This report doesn't seem to be having a meaningful impact on the greenback's performance against its rivals. As of writing, the US Dollar Index was down 0.09% on the day at 92.41.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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