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Wednesday, October 5, 2011

September Announced Job Cuts Worst Since April 2009

Employers announced plans to shed 115,730 workers from their payrolls in September, making it the worst job cut month in over two years, according to a report issued by Challenger, Gray & Christmas.

September's announced job cuts were 126% higher than August job cut announcements of 51,114 and 212% higher than September 2010 announcements. September's job cuts is the highest since April 2009, when 132,590 job cuts were announced.

To date, U.S.-based employers have announced 479,064 planned layoffs in 2011, a 16.5% jump from the same point last year, when job cuts totaled 411,272.

The government sector has accounted for one-third of the announced layoffs so far in 2011, followed by the financial sector, which has announced 54,013 planned layoffs between January 1 and the end of September.

On the other hand, employers announced plans to hire 76,551 workers during September.

Read the press release.

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