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Challenging The Challenger Report
3 min read
Bond prices rallied and stock prices fell this morning on news that layoffs rose sharply, according to the Challenger Report, which was titled "JOB CUTS SURPASS 1 MILLION; HIGHEST OCTOBER TOTAL SINCE 2003. COMPANIES CITE COST-CUTTING, AI IN OCTOBER."
That headline is somewhat sensational. It refers to the past 12 months through October. The actual number of layoffs during the month was 153,074, as the report notes
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Ed Yardeni