Announced Layoffs: Actual 42,474 Prior 42,759
November11 marks the 2nd straight month of lower job loses and is 13% below November10. With this report, total job cuts in 2011 now totals 564,297, which is 13% above last year’s year-to-date total of 497,969. (The 564,297 cuts y-t-d are above the 2010 year-end total of 529.973.
For the 8th time this year Government layoffs were at the top of the list. So far this year 180,881 government jobs have been eliminated, which is 30% above the 138,979 announced through November 2010
The Food sector was in the 2nd spot, losing 2,368 jobs. Retailers lost 2,285 jobs. The Financial sector was in the 5th spot in November losing only 1,681 jobs for the month but its in the #2 spot for year-to-date job cuts, with 56,191.
TOP FIVE INDUSTRIES
Year To Date
2011 2010
Government 180,881 138,979
Financial 56,191 21,430
Retail 48,338 33,814
Aerospace/Defense 34,354 17,981
Health Care/Products 23,812 26,612
An Overlooked Economic Indicator
Year Party $ Cost On Site Alcohol
2011 70% Unchanged 30% 50%
2010 64% 76% Unch 18% + 50% 50%
2009 62% 66% Unch 24% - 65% 50%
2008 77% na na na
2007 90% 38% incease 25% 75%
Challenger notes that this unscientific report shows corporate parties are on the upswing despite a stagnating economy.
Anyway, Happy Holiday Season to All
