Latest News

All stories

The Numbers

Claims Fell to 197,000 While Tech Announced 155,126 Cuts. Check the Denominator.

Initial claims for unemployment insurance fell to 197,000 in the week ending 19 September, the Labor Department reported on Thursday, with the insured unemployment rate at 1.1 per cent. Challenger, Gray & Christmas counts 155,126 announced job cuts in technology through August, up 52 per cent on last year and 29 per cent of every cut announced in the United States. Both numbers are correct, and the reason they do not collide is the denominator.

By Daniel Okafor  

A welder in a helmet leans over a length of steel pipework in a metal fabrication shop, sparks and a bright blue arc flaring from the seam, with welding sets, gas bottles and overhead ducting filling the workshop behind him.