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 firstname.lastname@example.org.
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.