US job cut announcements fall back in December, Challenger says

US job cut announcements fell at the end of 2022 closing off a year that saw the second-lowest total tally since 1993, the results of a closely followed survey showed.

According to Challenger, Gray and Christmas, lay off announcements dropped by 43% month-on-month in December to reach 43,651.

In the same month one year earlier they rose by 19,000..

Thus, for all of 2022, companies announced 363,824 job cuts, which was only 13% more than during the previous year.

That was also the lowest amount of job cuts recorded since 1993 save for 2021, Challenger added.

December did however mark the eighth month of 2022 during which layoffs had surpassed their year-earlier level.