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10/7/2021, 1:31 PM (Source: TeleTrader)
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US job cuts down 85% at 17,895 in September

Job cuts in the United States dropped 85% per annum to stand at 17,895 in September, according to a Challenger, Gray & Christmas Inc. report published on Thursday. On a monthly basis, they were 14% higher.

The largest amount of layoffs came from the Health Care/Products sector, while Industrial Goods Manufacturers announced second-most cuts. Store, unit, or plant closings were cited for the most cuts this year.

"Companies are in hiring and retention mode, and job seekers have a lot of power to make demands at the moment. We know there are millions of open positions, but many employers are having trouble keeping up with their applicants, taking too long to reach out, not making offers fast enough, or losing out to more attractive offers," Senior VP Andrew Challenger said.

Baha Breaking the News (BBN) / MD