Challenger, Gray & Christmas, Inc. announced on Wednesday that planned layoffs at U.S. firms fell for a third straight month in October to a 19-month low.
As we've noted the labor market is continuing to improve as US economic activity rebounds.
Planned job cuts announced by U.S. employers fell to 55,679 in October, down 16 percent from 66,404 in September.
The October job cuts represent the lowest level since March 2008, and are now at or below levels that were normally seen throughout all of 2006 and 2007.
In fact at a 55,679 monthly rate, the cuts are now well below the monthly average cuts for the last three years.
The Challenger report is one more indication that a return to US job growth is just around the corner.
Thursday, November 5, 2009
Announced Job Cuts Are Now At Below Average Levels
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