Dive Brief:

• After a four-month stretch that saw more than a quarter of a million job cuts announced by U.S.-based firms, planned layoffs in November fell to the lowest level in more than a year, according to the report by global outplacement consultancy Challenger, Gray & Christmas, Inc.
• The nation’s employers announced workforce reductions totaling 30,953 in November, 39% fewer than the 50,504 planned job cuts in October. Last month’s layoff total was 14% lower than November 2014, when 35,940 job cuts were reported.
• However, employers have announced 574,888 job cuts in 2015. That is 28% more than the 450,531 job cuts announced through November 2014. With just one month remaining in the year, job cuts are on pace to be the heaviest since 2009, when 1,272,030 layoffs were tabulated, according to Challenger.

Dive Insight:

John A. Challenger, chief executive officer of Challenger, Gray & Christmas, said the fourth quarter tends to experience heavier cuts, as employers make year-end adjustments to workforce levels in order achieve earnings goals.

"The November decline could be the quiet before a December storm or it could signal a lower-than-expected downsizing to close out the year," he said. "If recent history is any indication, it could be the latter, as December job cuts have been lower than the annual average since the end of the recession."

“Overall, the US economy is fairly strong," Challenged added. "The increase in job cuts this year is due to a handful of industries." In fact, of the 28 sectors the firm tracks, more than half have experienced a year-over-year decline in job cuts. "Unfortunately, five sectors have seen job cuts more than double," he said, noting that, for example, job cuts in the energy sector have increased a staggering 708% from a year ago.