12/7: MetroIntelligence Economic Update by P. DUFFY

November planned job cuts dip 29.8 percent from October but up 51.5 percent year-on-year

Last month’s job cut total of 53,073 is 29.8 percent lower than in October, but 51.5 percent higher year-on-year.  So far this year, employers have announced 494,775 cuts, 28 percent higher than those announced through this point last year. 

http://www.challengergray.com/press/press-releases/2018-november-job-cut-report-cuts-hit-53073-ytd-28-percent

 

November non-manufacturing index improves slightly to 60.7

The NMI® registered 60.7 percent, which is 0.4 percentage point higher than the October reading of 60.3 percent. However, concerns persist about employment resources and the impact of tariffs.

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Initial unemployment claims dip 4,000 in latest report, but 4-week average up 4,250

In the week ending December 1, initial unemployment claims were 231,000, a decrease of 4,000 from the previous week’s revised level. The 4-week moving average was 228,000, an increase of 4,250 from the previous week’s revised average.

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