2011 Year-End Job Cut Report & Economic Outlook

Planned job cuts announced byU.S.employers declined in December to 41,785, the lowest monthly total since June, according to the latest report on downsizing activity from global outplacement firm Challenger, Gray & Christmas, Inc.

The December total was down 1.6 percent from 42,474 job cuts in November.  Last month was up 31 percent from December 2010, when employers announced just 32,004 job cuts, which still stands as the lowest monthly total since 17,241 job cuts were recorded in June 2000.

While 2011 went out like a lamb in terms of downsizing activity, with employers announcing an average of just 42,339 job cuts per month over the final quarter of the year, the yearend job-cut total of 606,082 was 14 percent higher than the 529,973 job cuts announced in 2010.  However, the 2010 yearend total was a 13-year low.  The 2011 total is still well below the recession peak of 1288,030 annual job cuts reached in 2009.

Read the full report here.

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