–Government Sector Leads Layoffs, Mostly Civilian Air Force Workers
By Kevin Kastner
WASHINGTON (MNI) – There were 42,474 layoff intentions announced in
November, down only slightly from 42,759 in October and the 48,711 job
cuts announced in November 2010, job placement firm Challenger, Gray and
Christmas, Inc. said in a report released Wednesday. The data are not
seasonally adjusted.
Layoffs in November were led by the government sector, which
reported 15,000 job reductions in the month. Of those cuts, 13,500 were
civilian positions with the U.S. Air Force.
The trend recently has been toward cuts at the Federal level rather
than at state and local governments according to John Challenger, chief
executive officer of Challenger, Gray & Christmas. This trend is likely
to continue due to the emphasis on cost cutting in Washington.
Challenger also noted that the financial sector, which only posted
a mild 1,681 jobs cuts in November, is at risk of further cuts due to
exposure to the financial crisis in Europe.
In other data released, hiring intentions fell to 63,527 in
November from 159,177 in October, but were still up from 26,012 in
November 2010. November hiring plans were led by a 55,000 rise in the
transportation sector. However, Challenger noted that those were
temporary seasonal jobs at UPS.
The retail sector reported no new hiring in November, having their
seasonal hiring in September and October. Challenger said that given the
strong Black Friday and Cyber Monday spending, it is possible that
retailers resumed hiring in late-November and into early-December.
** Market News International Washington Bureau: 202-371-2121 **
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