Employment trends suggest US business is confident of more growth
Employers make plans to hire 88,000 workers, the highest July total on record, according to a report by outplacement consultancy
New York — The number of planned layoffs at US companies dropped in July to its lowest since November while job-opening announcements notched up, a sign that businesses are confident the US economy will continue to expand. A report released on Thursday showed US companies announced 28,307 planned job cuts in July, a 9% decline from 31,105 in June. It was the lowest since November, according to outplacement consultancy Challenger, Gray & Christmas. July’s job cuts were down 37.6% from 45,346 a year earlier. Meanwhile, employers made plans to hire 88,000 workers, the highest July total on record and the third-highest total of the year, according to the report. "Maybe some of these hiring announcements are just some of the exuberance that comes late in an expansion," Challenger, Gray & Christmas CEO John Challenger said in an interview. "But it may also be that some of the decision makers who decide whether to build a new plant or launch a new product or hire new people are becoming mo...
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