Employers in the U.S. announced more job cuts in August than a year ago, signaling little progress in the labor market more than two years after the recession ended, according to the good folks at Bloomberg.
Planned firings climbed 47 percent from August 2010 to 51,114, according to figures released today by Chicago-based Challenger, Gray & Christmas Inc. The announcements were led by reductions at government agencies and in the financial industry.
Job cuts in federal, state and local governments are another restraint on consumer spending that accounts for about 70 percent of the economy. Job growth this month probably fell shy of the gain needed to reduce the unemployment rate, according to a Bloomberg News survey before a Sept. 2 report…
Read more at http://www.bloomberg.com/news/2011-08-31/announced-u-s-job-cuts-rose-47-in-august-from-year-ago-challenger-says.html
No comments:
Post a Comment