Monthly Jobs Report: 93k New Jobs, 49k New Cuts

A new report is howing moderate job growth in the month of November. This is not the monthly government job count, but that report is also expected to show job expansion in two days. It also appears that job creation in October was stronger than previously anticipated.

However, the good news was also taken with significant bad news. Public employers are planning to slash their workforce even further and it appears that the private sector is also on that track:

A separate report Wednesday showed planned jobs cuts for November rose to their highest level since March, with the government and non-profit sector leading the rise.

Employers announced 48,711 planned job cuts last month, up 28 percent from 37,986 in October, according to the report from consultants Challenger, Gray & Christmas, Inc. It was the highest job-cut total since March, when employers announced plans to cut 67,611 jobs, the report said.

This appears to be a mixed bag. Even without the cuts it would appear that the jobs created are fewer than those needed to keep the unemployment rate from going up over the next year. The CBO sees 9% unemployment in 2012.


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