U.S. employers continuing to cut costs
announced plans in October to eliminate more than twice as many
jobs as they reported in September, a private survey found.
The number of job-cut plans announced last month rose to
171,874 from 76,506 in September, according to Challenger, Gray &
Christmas Inc., a Chicago-based placement firm. The October total
was down from 176,010 in the same month a year earlier, the last
time announcements were higher.
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Job-cut reports typically rise in October as companies
report earnings and economy measures, economists such as Steven
Wood at Insight Economics LLC said. Other evidence, including a 4
percent decline in average jobless claims in October from the
month before, suggests the employment market is improving.
Bloomberg News
