Job cuts fall to lowest rate in 14 years

Job cuts fall to lowest rate in 14 years

2 October 2014, 16:26
Ronnie Mansolillo
0
88

Monthly job cuts in September (30,477) fell to their lowest level in 14 years, according to a report released Thursday by outplacement firm Challenger, Gray & Christmas — and now 2014 is on pace to have the fewest job cuts since 1997. Year to date, employers have announced roughly 360,000 planned layoffs. “Job security is being helped by the fact that corporate profits remain near record highs,” said John Challenger, chief executive officer of Challenger, Gray & Christmas, in a statement. “So, we may see some ebb and flow in the rate of hiring, but employers, at this point, are reluctant to make any over-correction in workforce levels.”

Top 5 job cutting industries in September
Entertainment/Leisure 8,119
Aerospace/Defense 2,819
Food 2,297
Energy 2,220
Health care/Products 2,038
Share it with friends: