While the pace of job creation continues to disappoint, job security appears to be stronger than ever. The latest report on downsizing activity reveals that planned job cuts announced by employers in August fell to 34,768, the lowest monthly total in more than a decade.
August job cuts were down 17 percent from the 41,676 cuts announced in July, according to a report released today by global outplacement consultancy Challenger, Gray & Christmas, Inc. This marks the first decline following three consecutive months of increases.
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Sep. 1, 2010 at 9:36am Planned job cuts drop to 10-year lowAugust not only replaces April as the lowest job-cut month of the year, it represents the lowest job-cut month since June 2000, when employers announced only 17,241 planned layoffs. Job cuts last month were 55 percent below the 76,456 planned cuts announced in August 2009. So far in 2010, monthly totals are, on average, 62 percent lower than the year-ago figure. Overall, the 374,121 job cuts through August are down 65 percent from the 1,070,504 layoffs announced by this point in 2009. Plenty more in the Archives The comments function of the Business Examiner community is meant to encourage conversations and spark ideas about business issues in the South Sound. The feature is free and open to members of the public who register basic log in information. Comments should be concise, on topic and avoid attacks, profanity or abusive language or content. Comments that are deemed to violate this policy will be removed.
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