Layoffs Down Slightly in November, According to Challenger, Gray & Christmas Report

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There were fewer layoffs in November than in October, but the total number of layoffs in 2011 has now surpassed 2010, with one month still to go.  James O'Toole reports for CNNMoney:

Outplacement consulting firm Challenger, Gray & Christmas said 42,474 planned layoffs were announced in November, down 0.7% from October's total. That's the second straight drop after September's 28-month high of 115,730.

But job cuts announced this year are up 13% overall and now total 564,297 -- already more than 2010's full-year total of 529,973 -- and we still have to get through December.

Government and retail jobs, as well as those in the financial sector, have taken the biggest hit so far this year, the report showed. The government has announced cuts of more than 180,000 jobs this year, while retail has lost more than 48,000 and financial services 56,000.

Read the full article here

Note: the Challenger report is for layoffs specifically.  We'll be looking ahead to the Labor Department's monthly employment report for overall jobs numbers this Friday.


Posted 11-30-2011 8:40 AM by Graham Griffith
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