Layoff announcements drop, but November numbers still highest in three years
Layoffs announced by U.S. companies fell last month after spiking in October, yet the number remains the highest for any November in three years, according to Challenger, Gray and Christmas.
Companies announced 71,321 job cuts last month, the global outplacement and coaching firm said Thursday, which is roughly half of October’s total, marking the most announcements for that month in more than two decades.
“Layoff plans fell last month — certainly a positive sign,” said Andy Challenger, the firm's chief revenue officer. Still, this figure represents a 24% increase from the previous year and was only the third instance since 2008 in which November’s planned job cuts topped 70,000, he added.
This is among the final labor market reports the Federal Reserve will review before next week’s year-end meeting. Policymakers remain divided, with many favoring keeping rates high to dampen inflation.
Hiring intentions have dropped 35% compared to this time last year, the report noted. Year-to-date hiring plans — including seasonal positions — are at their lowest level since 2010. Challenger also reported that no new holiday hiring plans were announced in November.
How house appreciation has shifted since COVID-19
From the first quarter of 2020 to the third quarter of 2025, house prices across the nation have increased about 55%, according to a report the National Association of Home Builders released Wednesday.
More than 50% of the major metropolitan areas included in the ranking exceeded this rate, while around 226 saw varying degrees of decline from their post-COVID-19 pandemic peaks, ranging from drops of 0.1% to 12.7%, the NAHB said.
Data shows Knoxville, Tennessee, was the market with the largest increase (88.4%) since the first quarter of 2020. Odessa, Texas, had the worst: 18.3%.
These were the top and bottom 10 markets for house price appreciation over the past five years:
| TOP 10 MARKETS | BOTTOM 10 MARKETS | |||||
| Rank | Metro | Percentage change | Rank | Metro | Percentage change | |
| 1. | Knoxville, Tennessee | 88.4% | 1. | Odessa, Texas | 18.3% | |
| 2. | Atlantic City-Hammonton, New Jersey | 88.3% | 2. | Lake Charles, Louisiana | 20.5% | |
| 3. | Morristown, Tennessee | 85.2% | 3. | New Orleans-Metairie, Louisiana | 21.8% | |
| 4. | Hilton Head-Bluffton-Post Royal, South Carolina | 85.2% | 4. | San Francisco-Oakland-Fremont, California | 23.3% | |
| 5. | Vineland, New Jersey | 82.9% | 5. | Houma-Bayou Cane-Thibodaux, Louisiana | 24.1% | |
| 6. | Muskegon-Norton Shores, Michigan | 82.3% | 6. | Midland, Texas | 24.6% | |
| 7. | Savannah, Georgia | 82.1% | 7. | Santa Rosa-Petaluma, California | 25.2% | |
| 8. | Homosassa Spring, Florida | 80.4% | 8. | Chico, California | 25.8% | |
| 9. | Missoula, Montana | 80.3% | 9. | Lafayette, Louisiana | 26.5% | |
| 10. | Rome, Georgia | 79.9% | 10. | Shreveport-Bossier City, Louisiana | 26.9% |
Source: National Association of Home Builders