US companies announced 242,192 layoffs in October as the September 11th attacks devastated economic activity, according to a private survey released today.
The latest layoffs brought the total for the year to 1.6 million or one million more than all of 2000, the consulting group said.
October was the second-highest month for job cuts after the September figure of 248,332 and was the third time in four months that the total exceeded 200,000, the firm said.
Challenger Gray and Christmas said that over the past two months 490,0524 job cuts were announced - with 90 per cent of them coming after September 11th.
"It may seem as if the light at the end of the economic recovery tunnel keeps getting farther away, but our research has shown that there are opportunities for the growing number of Americans who suddenly find themselves unemployed," said chief executive Mr John Challenger.
Challenger noted that while telecom, transportation and manufacturing jobs continue to be cut, other areas are growing including defense, health care, insurance, energy and security.
"Not only do these sectors improve job seekers' chances of becoming re-employed, but they fulfill a growing desire to have a career that is meaningful, that is critical to the nation's rebuilding or defense that has some value to fellow man."
AFP