Wednesday, November 2, 2011

October Announced Job Cuts at the Lowest Level Since June

The number of planned job cuts announced by U.S.-based employers in October were 42,759 - the lowest monthly total since June; and planned hiring announcements approached 160,000, according to Challenger, Gray, and Christmas.

October planned job cuts were 63% below September's announcements, but was up 12.6% from the 37,986 layoffs in October 2010.

To date, employers have announced 521,823 planned job cuts in 2011, which is 16% higher than the 449,258 job cuts announced between January and October 2010. The government and financial sectors remain the top two job-cutting industries for the year, with 162,373 and 54,510 job cuts, respectively.

Read the press release.

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