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Challenger job cuts survey finds layoffs increased in June

MGN Online

MGN Online

CHICAGO (AP) - Employers say there were more layoffs last month than the month before.

The monthly survey by Challenger, Gray and Christmas found an eight percent increase in job cuts last month.

Still, for the first half of the year, job cuts are down about nine percent compared to a year ago.

The outplacement firm's CEO, John Challenger, says "job cuts are still relatively light." But he says some areas of the economy have seen big jumps in layoffs.

In financial services, cuts are up 82 percent from a year ago. They're up 38 percent in the retail sector.

And so far this year, private sector government contractors as well as government agencies have cut more than 10,000 jobs related to the automatic across-the-board federal spending cuts.

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