Monthly Layoffs Fall in June, But Nearly 20 Percent Higher Compared to 2023
Published on July 5, 2024
The number of layoffs announced in June declined on a monthly basis due to a seasonal trend, but remained high compared to last year, according to a recent report from outplacement firm Challenger, Gray & Christmas, Inc. Employers announced 48,786 job cuts in June 2024, down 23.6 percent from May, said a July 3 press release by Challenger. June 2024 cuts were 19.8 percent higher compared to June 2023; they also represent the worst June since 2020, and the second worst since June 2009. This is the third time this year that job cuts in a month were higher than the same period a year prior. Even though June numbers were better than May’s, this was attributed to a seasonal trend, not a better job market....