Latest data released by Challenger, Gray, and Christmas Inc - 5 December 2019
- Prior -33.5%
- Layoffs 44.57k
- Prior 50.28k
The data provides information on the number of announced corporate layoffs by industry and region and acts as a general labour market indicator.
Total job cuts in November fell compared to October but in total employers have announced plans to cut 559,713 jobs from their payrolls this year - which already surpasses the total seen in 2018 (538,659 job cuts).
This month's report noted that:
"Employers did not make large-scale job cut plans in November. While concerns of a downturn may linger, consumer confidence is strong and companies are holding on to their employees in a tight labor market".
Once again, cuts this month were led by the tech sector and with constant innovation and evolution in the sector's landscape, I can't say that is too surprising.
