Challenger: June U.S. job cuts lowest since 2000
By Associated Press, 7/1/2003 14:01
NEW YORK (Dow Jones/AP) U.S. corporations announced 59,715 job cuts in June, the lowest number since November 2000, according to a survey published Tuesday by an outplacement firm.
The June number from Challenger, Gray & Christmas was down 37 percent when compared with the same month last year and down 13 percent from May.
The decline, however, may not yet signal a pickup in hiring, the firm said.
''The fall in job cuts may mean that employers are simply staying with the workers they have, resulting in a stagnant job market,'' Challenger noted.
The government and nonprofit sector announced the most cuts, 7,728, followed by consumer products at 5,672 and telecommunications at 5,528.
The report is an anecdotal, non-statistical tally of job-cut announcements that are reported in major media outlets. The monthly report focuses only on job-cut announcements, not actual layoffs, and it doesn't take into account new hires or internal transfers at companies that have announced layoffs.
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