Layoff pace in December hit lowest level since mid-2024, Challenger says
CNBC••business
Key Points:
- Announced layoffs in December dropped sharply to 35,553, marking a 50% decrease from November and the lowest level in 17 months, suggesting potential labor market stabilization.
- Despite the December decline, full-year job cuts exceeded 1.2 million, a 58% increase from the previous year and the highest since 2020, with the fourth quarter being the worst since 2008.
- Companies announced plans to hire 10,496 workers in December, up nearly 16% from November and 31% from a year ago, indicating some improvement in hiring intentions.
- Government data shows stable weekly initial jobless claims around 208,000, with the four-week average at its lowest since April
