U.S.-based employers announced plans to cut 26,936 jobs in November, the lowest pace of the year, according to the monthly report released on Thursday by global outplacement consultancy Challenger, Gray & Christmas.
The November layoffs were 12 percent less than the reductions announced in October and were down 13 percent year over year. They were only slightly higher than the total in December 2015, which was the lowest since June 2000.
So far in 2016, American companies have announced 493,288 job cuts, a 5.5 percent decline from those recorded by this point in 2015.
The retail sector saw the heaviest job cutting in November, with 4,850 announced layoffs mostly from the bankruptcy of American Apparel. The retail losses are more than offset by the surge in holiday hiring.
Overall, retail layoffs were down about 12 percent from a year ago.