U.S.-based employers announced plans to cut payrolls by
28,307 jobs in July, the lowest monthly total since November 2016. Meanwhile,
over 88,000 hiring announcements were recorded last month, the third-highest
hiring month of the year and highest July total on record.
The July job-cut total is 9 percent lower than the 31,105
cuts recorded in June, and 37.6 percent lower than the same month last year,
when 45,346 cuts were recorded. Last month’s job cuts were the lowest monthly
total since November 2016, when 26,936 cuts were announced.
So far this year, employers announced 255,307 planned job
cuts, down 28.9 percent from the 359,100 cuts announced through the first seven
months of 2016.
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