US job cuts at near 4-year low in April -Challenger

NEW YORK, May 5 (BestGrowthStock) – The number of planned layoffs
at U.S. firms fell more than 40 percent in April to the lowest
level in nearly four years, suggesting employers are more
confident about economic conditions, a report on Wednesday
showed.

Employers announced 38,326 planned job cuts last month, the
lowest since July 2006 and down from 67,611 planned job cuts in
March, according to the report from global outplacement
consultancy Challenger, Gray & Christmas, Inc.

The sharp decline in job cut announcements comes days ahead
of the much-anticipated monthly U.S. payrolls report, which is
forecast to show non-farm payrolls rose for a second month. The
report is due Friday.

“It is certainly a promising trend that suggests most
employers are increasingly confident about conditions going
forward and slowing the pace of job cutting,” John Challenger,
chief executive officer of Challenger, Gray & Christmas, said
in a statement.

The April job-cut figure was also down 71 percent from
year-ago planned layoffs of 132,590, the report said.

While overall job cuts are on the decline, the government
and non-profit sector continue to downsize, the report said.
Stock Market Report

(Reporting by Caroline Valetkevitch; Editing by Leslie Adler)

US job cuts at near 4-year low in April -Challenger