Survey: Job cuts hold steady in November

CHICAGO (AP) — Planned job cuts in November were little changed from October.

Outplacement firm Challenger, Gray and Christmas says its monthly survey of employers found they planned to cut 45,314 workers from their payrolls in November, just 0.9 percent less than a month earlier.

However, the November cuts were down 21 percent from the same month a year ago, for a second straight month of year-over-year declines.

For the year to date, employers say there are 2.5 percent fewer job cuts than during the first 11 months of 2012.

The financial sector had the most job cuts through November, more than 59,000. Challenger says that's largely because the flood of foreclosures and refinancing after the recession has been waning, and banks are shedding the extra workers who were added to handle them.

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157-a-14-(John Challenger, CEO, Challenger, Gray and Christmas, in AP interview)-"not big changes"-John Challenger of Challenger, Gray and Christmas says planned job cuts in November were down just a little from October. (5 Dec 2013)

<<CUT *157 (12/05/13)££ 00:14 "not big changes"

159-a-12-(John Challenger, CEO, Challenger, Gray and Christmas, in AP interview)-"months of 2012"-John Challenger of Challenger, Gray and Christmas says job cuts so far this year are below last year's number. (5 Dec 2013)

<<CUT *159 (12/05/13)££ 00:12 "months of 2012"

160-a-16-(John Challenger, CEO, Challenger, Gray and Christmas, in AP interview)-"of the recession"-John Challenger of Challenger, Gray and Christmas says a slowdown in foreclosures and refinancings is a good sign for underwater homeowners, but has led to more than 59,000 layoffs in the financial sector this year. He says that's the most for any sector of the economy. (5 Dec 2013)

<<CUT *160 (12/05/13)££ 00:16 "of the recession"

158-a-10-(John Challenger, CEO, Challenger, Gray and Christmas, in AP interview)-"was last year"-John Challenger of Challenger, Gray and Christmas says jobs cuts in October were down from a month earlier and were down by an even bigger amount from a year ago -- following a year-over-year decline in October as well. (5 Dec 2013)

<<CUT *158 (12/05/13)££ 00:10 "was last year"

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