US Job Cuts Slow Sharply

The pace of US job cuts moderated in June, even as the running total for 2023 crept closer to half a million. Employers announced just 40,709 cuts last month, down by almost half from May's tally. The YoY pace, which exploded higher during the first half as companies, and particularly tech firms, attempted to right-size and preempt an expected deceleration in demand by trimming the proverbial fat, receded to 25%. All told, Challenger, Gray & Christmas counted 458,209 announced cuts for the