Chicago, IL, July 7-- Layoff announcements by U.S. corporations fell about 12 percent to 64,343 in June, the lowest level since last June, according to global outplacement firm Challenger Gray & Christmas.
Layoff announcements in the second quarter fell 20 percent to 209,895, the lowest since the third quarter of 2000, according to the monthly tally released Tuesday by Challenger. Listen: John Challenger comments on the latest layoff data.
The data are not seasonally adjusted. Layoffs generally are in a lull in the second quarter, before picking up at the end of the year.
"The decline in June job cuts is good news, but it would not be surprising to see a rise in monthly job-cut announcements during the second half of the year," said John Challenger, chief executive of the firm. "Historically, the second quarter is the slowest period for downsizing, followed by the July to September quarter."
Meanwhile, plans by corporations to hire workers fell 31 percent in June to 38,377. Challenger began tracking hiring announcements in May.
The Challenger survey tracks official announcements by companies to add or reduce jobs. Actual reductions or hiring can take place immediately or over time. Reductions can be accomplished by layoffs or by voluntary terminations, such as retirements.
Most job reductions or additions are never announced in a press release, and most small businesses are not included in the survey.
Through the first six months of the year, the financial services industry had cut the most jobs with 54,332, followed by industrial goods with 49,481.
