FX.co ★ US Challenger Job Cuts Surge 117.8% YoY in Latest Report, Reversing Previous Decline

Challenger job cuts in the United States jumped 117.8% year-over-year in the latest data release, updated on 05 February 2026, marking a sharp reversal from the previous reading, which had shown an 8.3% decline on the same basis. The figures compare the number of announced job cuts for the reported month against the same month a year earlier.

The previous period’s -8.3% year-over-year change suggested that layoffs had been running below last year’s levels. The latest 117.8% increase now indicates that announced job cuts have more than doubled compared with the same month a year ago. This swing underlines a significant deterioration in corporate employment plans over the comparison period, as measured by Challenger’s tracking of planned workforce reductions.