Challenger Survey: Planned Job Cuts Declined in September
KREX News Room
CHICAGO (AP) - A monthly survey shows planned job cuts in September were the fewest in three months.
The outplacement firm Challenger, Gray and Christmas says employers announced plans for 40,289 layoffs. That's 20 percent less than in August, when job cuts reached a six-month high.
Even with the decline, the total was 19 percent higher than in the same month last year. For the third quarter, job cuts were up 25 percent from the same period a year ago.
The health care sector again held the lead in September for the most planned layoffs, a total of 8,128. CEO John Challenger says it's largely because of workforce adjustments due to cutbacks in Medicare and Medicaid reimbursements. But he says that'll reverse and "become a supply problem as millions of new insured consumers come into the market needing services'' under the Affordable Care Act.