Challenger announced one quarter fewer job cuts in December vs. November
No one likes a job cut. Its even worse when it falls around Christmas time. This year Santa brought much fewer layoffs than was expected, in fact, the fewest since June 2000 according to Challenger's count which fell to 32K,004 in December vs. November's 48,711. The drop confirms improvement underway in jobless claims where fewer are receiving benefits. Whether fewer layoffs, however, are corresponding to new hiring will be answered in Friday's employment report.