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Does the latest US Challenger job cuts data set the tone for NFPs?

The latest US Challenger job cuts data was out just now 31 Aug
– August yy 5.1% vs -37.6% prev
– 33.8k vs 28.3k prev
Challenger Job Cuts, released by Challenger, Grey & Christmas monthly, provides information on the number of announced corporate layoffs by industry and region. The report is an indicator used by investors to determine the strength