CoStar News
Summary:
In November, U.S. companies announced a total of 45,510 job cuts, marking a 24% increase from the previous month. Despite being 41% lower than the same period the previous year, the year-to-date job cuts in 2023 were more than double the figure for the first 11 months of 2022, totaling 686,860. The technology industry led in announced job cuts for the year, with 163,562, including 5,049 in November. Additionally, the House Energy and Commerce Committee advanced a bill to address the shortage of electrical distribution transformers, while jobless claims increased by 1,000 to 220,000 for the week ending December 2, indicating a tightening job market.