Job cuts announced by U.S. companies jump 54% in July: report – Reuters

WASHINGTON (Reuters) – U.S. employers announced another 262,649 job cuts in July as the COVID-19 pandemic continued to weigh on demand, the latest indication that the labor market recovery is losing steam. FILE PHOTO: People line up outside a Kentucky Career Center hoping to find assistance with their unemployment claim in Frankfort, Kentucky, U.S. June…

Job cuts announced by U.S. companies jump 54% in July: report – Reuters

WASHINGTON (Reuters) – U.S. employers announced another 262,649 job cuts in July as the COVID-19 pandemic continued to weigh on demand, the latest indication that the labor market recovery is losing steam. FILE PHOTO: People line up outside a Kentucky Career Center hoping to find assistance with their unemployment claim in Frankfort, Kentucky, U.S. June 18, 2020. REUTERS/Bryan Woolston/File PhotoThe layoffs reported by global outplacement firm Challenger, Gray & Christmas on Thursday were up 54% from June. The job cuts, the third-largest monthly total since the coronavirus pandemic began, followed data this week showing a big step-down in private payrolls in July and further contraction in employment at manufacturing and services industries. Hiring announcements totaled 246,507 in July, almost matching layoffs, Challenger, Gray reported. “The downturn is far fr
Read More From Publisher