Planned Layoffs Hit 13 Year Low

(Undated) -- Job cuts in the U.S. are plunging to the lowest point in more than a decade. A Challenger report shows the number of planned layoffs for last month dropped by 32-percent to around 30-thousand. The last time layoff figures had been this low was in June of 2000, when employers announced about 17-thousand cuts. The new numbers come a day before the highly-anticipated U.S. non-farm payrolls report, which is expected to show nearly 200-thousand jobs added in December.
Payrolls processor ADP reports more than 230-thousand jobs were added by private employers last month. This was much higher than expected, which sets an optimistic outlook for continued economic growth in 2014.