Job cuts announced by U.S. employers fell in July from a year earlier, a sign of improvement in the labor market.
Planned firings dropped 57 percent to 41,676 from 97,373 in July 2009, according to figures released today by Chicago-based Challenger, Gray & Christmas Inc.
Job and income growth are needed to encourage Americans to spend and help revive an economy that’s shown signs of slowing. While planned job-cut announcements have posted their third straight month-to-month gain, they’re hovering close to the seven-year low reached in April.
