Planned Job Cuts Fall in July

Chicago, IL, Aug. 2, 2012 -- Fewer job cuts were announced in July than the same month last year, according to outplacement firm Challenger, Gray & Christmas.

Planned firings fell 45% from July 2011 to a 15-month low of 36,855. The decline in dismissals was the biggest since January 2011.

“While the decline in job cuts over the last two months is good news, it is not unusual to see these types of slowdowns during the summer months,” John A. Challenger, chief executive officer of Challenger, Gray and Christmas, said in a press release.

“Employers may be in a pre-election holding pattern.”

Compared with June, job-cut announcements fell 1.9%.