Job Cuts Down in April, Plunge from 2012 Level
Chicago, IL, June 6, 2013 – Monthly job cuts declined for the third consecutive month in May, according to outplacement firm Challenger, Gray & Christmas.
U.S.-based employers announced plans to cut payrolls by 36,398 during the month, 4.5% fewer than 38,121 cuts in April. The May total was 41% lower than the same month a year ago.
To date, the nation’s employers have announced 219,560 planned job cuts in 2013. That is down 11% from the 245,540 planned cuts announced in the first five months of 2012.
May is historically the slowest job-cut month of the year, averaging 57,688
since 1993, Challenger said.