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. 



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.



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.