Announced job cuts from Challenger, Gray & Christmas have risen sharply in last three recessions

Job cut announcements from the Challenger report and the unemployment rate indexed to January 2020, 1994–present

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Note: The unemployment rate is seasonally adjusted. Job cut data reflect three-month moving averages to smooth some of the month-to-month volatility. Updated September 23, 2026.

Chart: Economic Policy InstituteSource: Investing.com, The Challenger Report, and Bureau of Labor Statistics.Get the data