5 Economic Triumphs for the US Under Trump

By Anugrah Kumar, Christian Post Contributor Saturday, January 06, 2018

2) Lowest Number of Layoffs Since 1990

A recruiting representative greets a potential employee during a job fair in San Francisco, California. | (Photo: Reuters.Robert Galbraith)

Also on Thursday, global outplacement consultancy Challenger, Gray & Christmas reported that U.S. employers' plan to cut only 32,423 jobs in December brought the year's total to the lowest figure since 1990.

"The tight labor market, coupled with uncertainty surrounding healthcare and tax legislation, possibly kept employers from making any long-term staffing decisions this year," CNBC quoted CEO John Challenger as saying in a statement. "However, 2018 may see an increase in job cut announcements, as companies realign with consumer demand."

The tax bill has led to unprecedented hiring plans for 2018, as employers plans to hire more than 1.1 million near hires, 27 percent more than last year.

"While companies in the pharmaceutical, healthcare, construction, and food industries did announce more job cuts than last year, it was nothing like the energy cuts seen in the last two years or the financial cuts seen during the recession," Challenger added.