Layoffs around the U.S. fall to lowest level since 1993

Corporate layoffs are falling to their lowest level in nearly 30 years as the U.S. job market bounces back from the coronavirus pandemic. The number of announced job cuts in November fell to 14,875, according to outplacement firm Challenger, Gray & Christmas. That's the lowest figure since May 1993.

"[I]t's no surprise job cuts are at record lows. Employers are spread thin, planning best- and worst-case scenarios in terms of COVID, while also contending with staff shortages and high demand," Andrew Challenger, the company's senior vice president, said in a statement.

Government figures released on Thursday also show unemployment claims — a proxy for layoffs — falling steadily. Some 222,000 claims for jobless aid were filed in the week ended November 27, the Department of Labor said. That's a small rise from the previous week's figures, which hit a 50-year low, but close to the typical weekly number before the COVID-19 pandemic hit last winter.