“U.S. employers announced plans to cut 32,423 jobs in December, bringing the year’s total to a low not seen since 1990, global outplacement consultancy Challenger, Gray & Christmas reported Thursday,” Chloe Aiello reports for CNBC.
“Cuts in 2017 totaled 418,770, 20 percent below 2016’s number. In 1990, companies announced plans to cut 316,047 jobs,” Aiello reports. “Last month saw 7.4 percent fewer job-cut announcements than November, and 3.6 percent fewer than in December 2016.”
“Widespread restructuring and competition from online sales led to unprecedented cuts in retail jobs in 2017. Retail employers announced 76,084 job cuts this year, a 28 percent increase from 2016, according to the Challenger report,” Aiello reports. “‘The retail pivot that caused thousands of store closures and job cuts was not seen in any other industry this year,’ John Challenger said.”
“The passage of the tax bill has prompted unprecedented hiring plans for 2018,” Aiello reports. “Employers report plans to hire more than 1.1 million near hires, 27 percent more than last year.”
Read more in the full article here.
MacDailyNews Take: Strong U.S. employment certainly bodes very well for the economy in general and for makers of coveted goods, such as Apple, in particular.
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