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Planned job cuts soar 42% in May
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| Contributor | RP |
| Last Edited | RP Jun 02, 2005 03:31pm |
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| Category | Analysis |
| News Date | Thursday, June 2, 2005 09:00:00 PM UTC0:0 |
| Description | Planned job cuts soared in May after hitting a five-year low in April, but it's too early to worry about weakness in the economy, an employment firm said Thursday.
Employers announced 82,283 job cuts in May, compared to 57,861 in April, according to a monthly report issued by Challenger, Gray & Christmas.
May job cuts rose 12 percent from the year-ago period. So far this year, 427,278 job cuts have been announced, 4.6 percent more than the five-month total of 408,392 last year, the report said. |
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