Layoffs Plunge

Good news from the latest Challenger job cuts report:

Monthly job cuts declined for the third consecutive month in May, as U.S.-based employers announced plans to trim payrolls by 36,398 during the month, 4.5 per cent fewer than 38,121 cuts in April. The May total was 41 per cent lower than the same month a year ago, when employers slashed payrolls by 61,887 , according to the report Thursday from global outplacement consultancy Challenger, grey & Christmas, Inc. To date, the nation’s employers have announced 219,560 planned job cuts in 2013. That is down 11 per cent from the 245,540 planned cuts announced in the first five months of 2012.

Challenger

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