Two key economic reports show layoffs tumbling, private jobs soaring

Two key economic reports from private analysts today point to big improvement on the jobs front, although the stock market appears to be waiting on the sidelines for Friday's official monthly report from the Labor Department.

The global outplacement consultancy Challenger, Gray & Christmas says downsizing activity in 2010 fell to its lowest level since 1997. Employers announced plans to eliminate less than 530,000 positions. The company says planned layoffs of 32,004 in December represent a 34% drop from November.

The ADP National Employment Report finds private-sector employment increased by 297,000 from November to December -- a pace it calls "well above what is usually associated with a declining unemployment rate."

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- Posted: 2011-01-05 12:18:24

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