American employers slowed downsizing in June, announcing the lowest number of layoffs since October 2022. | Reuters
ual for the summer months. In fact, June is historically the slowest month on average for announcements. It is also possible that the deep job losses predicted due to inflation and interest rates will not come to pass, particularly as the Fed holds rates,” Andrew Challenger, senior vice president of Challenger, Gray & Christmas, said in a statement.
The technology sector continues to downsize the fastest with 141,516 total job cuts announced this year, up 2,353 percent from 5,769 over the same period in 2022. On a month-to-month basis, however, these cuts slowed by nearly 80 percent, falling to 4,685 in June from 22,887 in May.On Friday, the Department of Labor is set to release monthly unemployment figures and payroll changes.
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