August 4th, 2010
07:12 AM ET
4 years ago

Job cuts rise for third straight month, says Challenger

New York (CNNMoney.com) - Planned job cuts rose for a third straight month in July, fueled by continued weakness in the government and non-profit sector, a report Wednesday showed.

Employers announced plans to eliminate 41,676 jobs last month, according to outplacement firm Challenger, Gray & Christmas Inc. That's up 6% from June, when job cuts rose to 39,358.

Since hitting a four-year low in April, job cuts have risen nearly 9% over the past three months, but downsizing remains well below 2009 levels and cuts in July were down 57% from a year ago.

So far this year, employers have announced 339,353 job cuts, down 64% from the same period last year.

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Filed under: CNNMoney.com • Economy • issues • Jobs
soundoff (4 Responses)
  1. Go USA!

    Big business is sitting on 1.3 trillion dollars that they could invest at any moment to hire workers and get our economy rolling, but they refuse to engage. Why? They are trying to knock the democrats out of power so their supporters in the GOP can win back seats this fall. Their ultimate goal? To get the GOP back in power because he GOP puts the interests of the wealthy and big business ahead of the interests of the American people.

    August 4, 2010 08:08 am at 8:08 am |
  2. Chessnutz of Liverpool NY

    It has been this way since the recession began in 1972. The jobs go away, they count you as unemployed for 26 weeks and even though you did not get a job, after 26 weeks you are no longer counted as unemployed!
    HEY Congress! Why don't you get out of your friendly Lobbyist’s penthouse and come down to Main Street and see what is happening?
    Guess what Congress "You Are Fired!"
    This fall vote "No to incumbents"

    August 4, 2010 08:43 am at 8:43 am |
  3. jpmichigan

    When will the Obama administration finally own up to the fact that their stimulus bill did not real help the save or create permanent jobs. Companies will down size their ranks to maintain the ability to continue. Only big government added temporary jobs. The unemployed number will hit 10% by September, swelling the unemployment lines and big company and big financial system will continue to take home big money bonuses. Political party will continue to benefit from those companies.

    August 4, 2010 08:52 am at 8:52 am |
  4. Keith in Austin

    Wow... Bozo,Harry and Pelosi's 870 Billion Dollar Stimulous Farce is really working huh?

    August 4, 2010 08:59 am at 8:59 am |