U.S. job-cut announcements fell in November from their highest level in a year, according to a report Tuesday.

U.S. businesses announced 99,452 job cuts in November, compared with 171,874 in October. October's level of job-cut announcements had been the highest since October 2002.

Telecommunications industries led the job cutting in November, announcing 19,183 cuts, according to ther report. Electronics firms announced 9,794 cuts, consumer products firms announced 9,518 cuts and industrial goods firms announced 8,258.

So far in 2003, firms have announced 1.14 million job cuts, 17 percent less than the 1.37 million announced in the first 11 months of 2002, the report said.

Nevertheless, the U.S. economy has enjoyed eight straight quarters of economic growth, including a growth rate of 8.2 percent in the third quarter of 2003, without significant job creation.

By: DocMemory
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