Job Cuts Fall to 11-Month Low in July, Tech Hit Hardest: Report
See the original article here.
Rachelle Akuffo and Andy Challenger on Yahoo! Finance Live last month.
Investors will be looking closely at the August jobs report for signs the labor market is cooling. Challenger, Gray & Christmas Senior Vice President Andy Challenger tells Yahoo Finance Live that the labor market “still looks pretty healthy,” but the trend has been “continual, slow cooling.” Challenger says that after three years of “really intense volatility,” the labor market is seeing “a little bit of calmness.”
For the first six, seven months of this year, we’ve seen really dramatic cuts, especially compared to the year prior where we were still in the depths of a real labor shortage. Where we’re primarily seeing the cuts is in tech, health care, real estate, finance, tend to be higher-paying white collar jobs.
-Andy Challenger, jobs expert
Yahoo! Finance Graphic: Announce Job Cuts with Challenger data
Challenger was recently quoted in a WSJ article regarding the ways in which employers are finding ways to cut jobs without having to do layoffs.
