Planned Job Cuts Decline in August

Chicago, IL, Aug. 31, 2011 -- The number of planned job cuts at U.S. firms fell 23% in August after rising for three straight months, according to consultants Challenger, Gray & Christmas.

Employers announced 51,114 planned job cuts, down from 66,414 in July.

"In August, the private sector once again took a backseat to the government sector, which saw job cuts surge to the second highest monthly total this year," John Challenger, chief executive officer of Challenger, Gray & Christmas, said in a press release.

For 2011 so far, employers have announced 363,334 cuts, somewhat better than the 374,121 cuts announced in the first eight months of 2010.

Cuts in the government sector accounted for 18,426 of the announced layoffs in August, and 105,406 for the year so far.