Layoff Announcements Down, But Still High

December 5, 2001( - Despite a drop in the number of layoff announcements by US companies in November, the impact of the terrorist attacks on the labor market is still noticeable, according to the findings of a new report by Challenger, Gray and Christmas.

The recruiter found that announced job cuts totaled 181,412 in November, down 25% from the previous  month, when companies announced 242,192 layoffs.

According to the report, the number of layoff announcements made so far this year is triple that of the 2000 figure, and 39% higher than the combined totals of the last two years.

Among the industries hardest hit were:

  • telecommunications,
  • manufacturing, and
  • transportation

The report comes ahead of Friday’s much anticipated November employment report, to be issued by the Department of Labor.