Tags: challenger | job cuts | economy | labor employment

Private Survey Shows Job Cuts in September Were Fewest in 14 Years

Thursday, 02 Oct 2014 08:30 AM

Outplacement firm Challenger, Gray and Christmas says employers last month announced the fewest job cuts since June 2000.

Job cuts plunged 24 percent from August, to about 30,000 in September. That's also down 24 percent from September a year ago.

Firm CEO John Challenger says job security "is being helped by the fact that corporate profits remain near record highs."

He says if job cuts continue at the current pace, 2014 could end with fewer than 500,000 -- something that hasn't happened since 1997.

The entertainment industry had the most job cuts last month, with more than 7,000 of them from the closure of casino resorts in Atlantic City. But Challenger says that isn't an indication of the overall economy "as much as an indication of trends re-shaping the casino industry."

He says as states allow gambling in more cities, "destinations like Atlantic City start to lose their draw."

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Economy
Outplacement firm Challenger, Gray and Christmas says employers last month announced the fewest job cuts since June 2000. Job cuts plunged 24 percent from August, to about 30,000 in September. That's also down 24 percent from September a year ago. Firm CEO John Challenger...
challenger, job cuts, economy, labor employment
149
2014-30-02
Thursday, 02 Oct 2014 08:30 AM
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