US November Challenger layoffs 14.9k vs 22.8k prior

Latest data released by Challenger, Gray, and Christmas Inc

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US-based employers cut 14,875 jobs in November, down 34.8% from the 22,822 job cuts announced in October. This was the lowest monthly total in terms of job cuts since May 1993 - where there were 14,086 cuts announced.

The November total this year is down 77% from the same month last year and throughout the year so far, employers have announced plans to cut 302,918 jobs from their payrolls, down 86% from the 2,227,725 jobs eliminated through the same period last year.

Challenger notes that:

With the Omicron variant emerging and the unknowns that come with its spread, coupled with the ongoing difficulty hiring and retaining workers, it's no surprise job cuts are at record lows. Employers are spread thin, planning best- and worst-case scenarios in terms of COVID, while also contending with staff shortages and high demand.

December 03, 2021 at 12:29AM
Justin Low
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