Lowest Number of Announced Job Cuts in 27 Years

Announcements of job cuts this year were at the lowest level since 1990.

Job cuts don’t necessarily mean an economy is stalling because a growing economy might need to reallocate labor to where it can be used more productively. Still, given how slow and frail the Obama “recovery” has been, it is somewhat amazing that employers announced a number of job cuts lower that any year since 1990!

Of course, some job cuts are great news:

Trending: Shock Report: The FBI Seems Sure that Hillary Clinton Broke the Law!

CNBC reports, “Job-cut announcements in 2017 see lowest level since 1990, Challenger report says.

take our poll - story continues below

Should Joe Biden drop out of the Presidential race because of his inappropriate touching of women?

  • Should Joe Biden drop out of the Presidential race because of his inappropriate touching of women?  

  • This field is for validation purposes and should be left unchanged.
Completing this poll grants you access to Eagle Rising updates free of charge. You may opt out at anytime. You also agree to this site's Privacy Policy and Terms of Use.

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.

“The tight labor market, coupled with uncertainty surrounding health care and tax legislation, possibly kept employers from making any long-term staffing decisions this year,” CEO John Challenger said in a statement. “However, 2018 may see an increase in job cut announcements, as companies realign with consumer demand.”

Cuts in 2017 totaled 418,770, 20 percent below 2016’s number. In 1990, companies announced plans to cut 316,047 jobs.

Read the entire story.

The views expressed in this opinion article are solely those of their author and are not necessarily either shared or endorsed by EagleRising.com

Join the conversation!

We have no tolerance for comments containing violence, racism, vulgarity, profanity, all caps, or discourteous behavior. Thank you for partnering with us to maintain a courteous and useful public environment where we can engage in reasonable discourse.

Send this to a friend