December layoffs second lowest of 2007

CHICAGO, Jan. 3 (UPI) -- U.S. job layoffs plunged 39 percent in December, the second lowest monthly total of 2007 despite the housing slump, a new report said Thursday.

The survey placed the number of job cuts at 44,416, down from 73,140 announced layoffs in November. It was second last year only to July's 42,897 reduction, the report by the global outplacement consultancy, Challenger, Gray & Christmas, said.

"The housing slump has failed to translate into widespread job cuts outside of the financial sector," said John Challenger, chief executive officer.

Job cuts in 2007 totaled 768,264, some 8.5 percent below the 839,822 figure announced in 2006, the report said. The 2007 job-cut figure was the lowest since 2000.