12/1/2022, 1:31 PM (Source: TeleTrader)
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US job cuts in November jump to 76,835 - Challenger

Job cuts in the United States soared to 76,835 in November, compared to 33,843 in October, according to a report by Challenger, Gray & Christmas Inc. on Thursday. Layoffs surged 417% from November 2021, representing the highest monthly total since January 2021.

So far this year, employers announced plans to cut 320,173 jobs, a 6% increase from the 302,918 cuts announced in the first eleven months of 2021, the report stated. A quarter of the jobs lost in November, or 52,771, come from the tech sector, "the highest monthly total for the sector since the firm began keeping detailed industry data in 2000."

Baha Breaking News (BBN) / DJ