Economists also watch a number of alternative indicators for evidence to support or refute the developments suggested by data in the employment report. One of these alternative indicators is the index of monthly layoff announcements made by companies. The index, compiled by the employment consulting firm Challenger, Gray and Christmas, measures intended dismissals rather than actual firings. It is thus something of a leading indicator. It gives economists an insight into industries that may be experiencing difficulties. Movements in the index are also helpful in gauging the bigger picture contained in the BLS employment report. That is, increases in the number of layoff announcements usually portend a softer payroll picture, whereas a decl....