Planned Job Cuts Edge Down in November

Chicago, IL, Nov. 30, 2011 -- The number of planned layoffs at U.S. companies fell slightly in November, according to consultants Challenger, Gray & Christmas.

However, job cuts for the year have exceeded 2010's total.

Employers announced 42,474 planned job cuts this month, down 0.7% from 42,759 in October, according to the report.

November's job cuts were down 12.8% from the same time a year ago when 48,711 layoffs were announced. But with just one month left in the year, employers have announced 564,297 cuts for 2011, exceeding 2010's total of 529,973.

Cuts in the government sector accounted for 44% of November's layoffs, the eighth time this year the sector has led all others in monthly job cuts.

"Over the past six months, we definitely have seen a shift away from the heavy government job cuts at the state and local level toward increased job cuts at the federal level," John Challenger, chief executive officer of Challenger, Gray & Christmas, said in a press release.

"The worst may be yet to come, as cutbacks spread from the military to every other agency in Washington."