Planned Job Cuts Remain Low

Chicago, IL, Oct. 6, 2010--Planned layoffs at U.S. firms rose slightly in September, though it was the second lowest level of the year, according to outplacement consultancy Challenger, Gray & Christmas, Inc.

Employers announced 37,151 planned job cuts last month, up 7% from the 34,768 job cuts reported in August.

"The low job-cut numbers we are seeing in almost every sector do not necessarily translate into increased hiring," John Challenger, chief executive officer of Challenger, Gray & Christmas, said in a press release.

"There is hiring going on in the economy, but it is not enough make a discernible dent in the number of unemployed," he said.

The September job-cut figure was down nearly 50% from a year ago, when the report found 66,404 planned layoffs.

Overall, employers announced 411,272 job cuts so far this year, which was 64% below the 1,136,908 layoffs announced by this point last year.