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(CEP News) - Planned job cuts in the United States continued to surge forth in December, with one study suggesting U.S. firms planned to nearly triple layoffs compared to last year.
According to a report from Challenger, Gray & Christmas, U.S. planned job cuts fell by 15,323 in December to 166,348, a 274.5% increase compared to a year ago. In November, planned job cuts rose 68,787 to 181,671. The December jobs cuts is the largest figure for December that we've ever seen said, John Challenger of Challenger Christmas and Gray in an interview with CNBC. Usually, December to February tend to be heavy on layoffs, he added. Planned cuts in the financial sector fell 51,752 after increasing 73,407 in November, and cuts to the retail sector rose 7,710 compared to a 9,629 increase the month prior. While cuts in the automotive sector fell 3,593 from a previous 5,506 decrease, cuts to the food sector rose by 499 from a 3,716 fall previously, and reductions to the energy sector advanced 787 compared to November's 105 fall. On Friday, the U.S. Bureau of Labor Statistics will release nonfarm payrolls for December. The consensus is for a decline of 500k jobs after November's 533k fall, and for the unemployment rate to rise to 7.0% from 6.7%. By Erik Kevin Franco,
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, edited by Nancy Girgis,
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