U.S.-based employers announced 35,038 job cuts in November

Eren Sengezer FXStreet

"U.S.-based employers announced 35,038 job cuts in November, up 30 percent from the same month last year, when 26,936 job cuts were announced. Employers have announced 17 percent more cuts than in October 2017, when 29,831 cuts were announced," Challenger, Gray & Christmas, Inc. noted in its latest report.

Key quotes

So far this year, 386,347 job cuts have been announced, 22 percent fewer than the 493,288 cuts announced through November 2016.

This is the highest monthly total since April, when 36,602 cuts were announced.

Companies in the Pharmaceutical sector have announced 13,254 job cuts so far this year.

The Health Care sector announced 7,011 job cuts in November.

Industrial manufacturing has announced 19,986 cuts in 2017, 37 percent fewer than the 31,656 cuts announced through November last year.

Meanwhile, holiday hiring announcements are slightly behind last year’s totals.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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