FHN Financial chief economist takes a closer look at consumer confidence falling for the second straight month on ‘Making Money.’
The pace of job cuts by U.S. employers accelerated in November, with the number of layoffs climbing 127% from just one month ago, according to a report published on Thursday by Challenger, Gray & Christmas.
Companies announced 76,835 job cuts in November, led by the technology sector, the analysis showed. That is 417% higher than the same time one year ago.
So far this year, employers announced plans to cut more than 320,000 jobs, a 6% increase from the nearly 303,000 cuts announced in the equivalent time period last year. About 80,000 of the cuts this year stem from the technology sector.
“The tech sector has announced the most job cuts this year by far,” said Andrew Challenger, senior vice president of the Chicago-based Challenger, Gray & Christmas. “While other industries are cutting jobs at…
