–3Q Layoffs Total 113,595, Lowest Quarterly Total Since 2Q 2000
By Kevin Kastner
WASHINGTON (MNI) – There were 37,151 layoff intentions announced in
September, up from 34,768 in August, but down from the 66,404 job cuts
announced in September 2009, job placement firm Challenger, Gray and
Christmas, Inc. said in a report released Wednesday. The data are not
seasonally adjusted.
Layoffs in September were led by the government and nonprofit
sector, which reported 11,091 job reductions in the month.
The number of planned layoffs totaled 113,595 in the third quarter,
down slightly from 116,494 and less than half of the 240,333 job cuts in
the third quarter of 2009. The third quarter total was the lowest since
the second quarter of 2000
“The low job-cut numbers we are seeing in almost every sector do
not necessarily translate into increased hiring,” said John Challenger,
chief executive officer of Challenger, Gray & Christmas.
“There is hiring going on in the economy, but it is not enough make
a discernable dent in the number of unemployed,” he added.
However, Challenger noted that employers appear ready to hire, they
just need a good reason to do so.
“Some people have expressed concern that hiring may never take off
due to the fact that companies have learned to be leaner and meaner and
will simply operate with smaller workforces from now on,” Challenger
said. “However, increased sales will eventually compel companies to hire
or risk being unable to meet rising demand.”
In other data released, hiring intentions surged to 123,076 in
September from 14,075 in August on a reported 114,000 hiring plans for
the retail sector ahead of the holiday season. Hiring plans were only
25,047 in September 2009, with 1,575 retail hires planned that month.
** Market News International Washington Bureau: 202-371-2121 **
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