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Takeaway: While claims were fairly unexciting this past week, the Challenger Job Cuts Report showed a fresh round of layoffs in energy.

Editor's Note: Below is a brief excerpt from an institutional research note written by Financials analyst Josh Steiner and Jonathan Casteleyn earlier today. To access our institutional research email sales@hedgeye.com

A Job Cut Spike In The Oil Patch - jobs cartoon 06.03.2016

The Challenger Job Cut Report showed a 17,700 spike in cuts from the energy industry today. That's up from 2,000 in the prior reading. As the Challenger report points out, this was somewhat of a surprise, given recent projections for rising oil prices and labor shortages. 

Here's a closer look.

A Job Cut Spike In The Oil Patch - job cut 8 4 16