The number of planned layoffs announced in November remained virtually unchanged from the previous month, as U.S.-based employers reported job cuts totaling 42,474, down 0.7 percent from 42,759 in October, according to the latest report on downsizing activity from global outplacement firm Challenger, Gray & Christmas Inc.
November job cuts were down 13 percent from the same month a year ago when employers announced plans to cut 48,711 jobs from their payrolls. November marks the second consecutive month of lower job cuts after surging to a 28-month high of 115,730 in September.
With one month remaining in 2011, job cuts for the year total 564,297, officially surpassing the 2010 year-end total of 529,973. The 11-month total is 13 percent higher than the 497,969 job cuts announced over the same period a year ago.
November job cuts were once again dominated by government sector job-cut announcements, which totaled 18,508 or 44 percent of all job cuts during the month. It is the eighth time this year that this sector led all others in monthly job cuts.
For the year, government agencies have now announced 180,881 job cuts, 30 percent more than the 138,979 job cuts announced by these employers through November 2010.