US Challenger October job cuts fall 71.3% year-on-year

Cointime reports: US Challenger job cuts fell 71.3% year-on-year in October, compared with a 19.9% decline in the prior reading. The October figure marks a sharp swing from the previous month’s year-on-year change, indicating a much smaller pace of announced layoffs than a year earlier. The prior reading showed a 19.9% year-on-year decline.