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Employment in the first half was the highest since 2009: Challenger



<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "US job cuts in the first half of this year are on their highest total in a decade, according to a new report from Challenger Gray & Christmas . data-response time = "22"> US job cuts in the first half of this year are at their highest in a decade, according to a new report from Challenger Gray & Christmas

The global outplacement and business and executive coaching firm's report released Wednesday found that US employers announced you would cut 140,577 jobs in the second quarter, even though the figure has fallen by 26% from the first quarter, it's a 34 % hop from last year. These additional job cuts in the second quarter bring the first half this year to 330,987, an increase of 35% from the same period last year.

"Second quarter is historically the slower period for job-saving plans," Andrew said. Challenger, vice president nt for Challenger, Gray & Christmas. "Businesses typically do not have specific staff decisions on this point, either because they are in the midst of or only near the end of their financial year in June."

Especially in June, employers cut 41,977 jobs, a 13% jump from a year ago. Challenger Gray noted that the mark is the eleventh consecutive month where job cuts were higher than the corresponding month of the previous year.

The retail sector continued to see the largest amount of job cuts this year followed by industrial and automotive sectors. "Job cuts tend to be higher overall," according to Challenger. "Manufacturers are struggling with not only technological changes, but also increased competition, tariffs, changes in consumer behavior and lack of skills."

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) -sm Mt (0.8em) – sm" type = "text" content = "Challenger & # 39; s report comes at the heel of a "19459009" more soft than expected ADP / Moody & # 39; s employment report & nbsp; was released on Wednesday morning, the report showed that private sector employment in the US grew at a disappointingly slow pace, with only 102,000 posts added in June. Consensus estimates were for 140,000 private wage increases during the month. "data-response time =" 27 "> Challenger's report comes at the forefront of a more soft-than-expected ADP / Moody & # 39 ; 's private sector employment report released on Wednesday morning. The report showed that employment in the US private sector grew at a disappointingly slow pace, with only 102,000 jobs added in June. Consensus estimates were for 140,000 private payroll additions during the month.

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<p class = "canvas-atom canvas-text Mb (1.0em) Mb Heidi Chung is a reporter at Yahoo Finance. Follow her on Twitter: @heidi_chung [19659008] [sms= .] "data-response time =" 29 "> Heidi Chung is a reporter at Yahoo Finance. Follow her on Twitter: @heidi_chung .

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