Total Jobs Cuts For 2011 Equal Last Year–With Month To Go

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

(TM and © Copyright 2010 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

  • Tired of the lemons

    A lot of those government workers didn’t do much of anything anyway. Lots of people behind the counters and long lines of customers waiting while the workers chit chatted away and took personal calls. Sometimes you would get treated like they were doing you a favor instead of a job.

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