November Layoffs Jump 11% - Challenger Survey

Planned U.S. layoffs rose 11% in November to 76,773, up from 69,177 in October but down from 99,279 a year earlier, according to Challenger, Gray & Christmas Inc.

"There is no question that the economy is slowing. Weakness in the housing market is expected to continue and higher paying jobs in the manufacturing and construction continue to shrink," Challenger said in a statement.

On a year-to-date basis, expected job losses totaled 785,179 so far in 2006, some 19% below the same period in 2005.

U.S. employers announced they would add 63,233 jobs in November, mainly temporary hirings by UPS to meeting holiday shipping demand, Challenger said.

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