US-based employers announced 32,423 job cuts in December - Challenger, Gray & Christmas Inc.

"U.S.-based employers announced 32,423 job cuts in the last month of the year, bringing the year-end total to 418,770. That is the lowest annual total since 1990, when 316,047 cuts were recorded," Challenger, Gray & Christmas, Inc. reported on Thursday.

Key quotes

Employers announced 20.5 percent fewer cuts than the previous year, when 526,915 cuts were announced.

Last month saw a 7.4 percent decrease from November’s total of 35,038, and a 3.6 percent decrease from the 33,627 cuts announced in the same month last year.

The tight labor market, coupled with uncertainty surrounding health care and tax legislation, possibly kept employers from making any long-term staffing decisions this year.

However, 2018 may see an increase in job cut announcements, as companies realign with consumer demand.