Total Jobs Cuts For 2011 Equal Last Year–With Month To Go
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CHICAGO (AP) — Employers this month announced virtually the same number of job cuts as in October, according to the Challenger, Gray and Christmas monthly survey.
The global outplacement firm says November cuts totaled 42,474. While that’s down 13 percent from November of last year, it pushes the total job cuts for 2011 above the total for all of last year — with a month still to go this year.
Government jobs are again the biggest loser, with 18,508 job cuts this month. That’s 44 percent of all job cuts in November. So far this year, government job cuts are up 30 percent from the same period a year ago.
The financial services sector was the next hardest hit, with job cuts by financial firms this year up more than 160 percent from the same period last year. Challenger says financial services jobs remain at risk for heavy downsizing activity.
LISTEN: WBBM Newsradio’s Regine Schlesinger Reports
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