Private Sector Job Gains Losing Ground to Surging Layoffs

A sudden and unexpected burst in private-sector downsizing pushed the number of announced job cuts to a 16-month high of 66,414 in July, according the latest report on downsizing activity by outplacement consultancy Challenger, Gray & Christmas Inc.

The 66,414 job cuts last month were up 60% from the previous month, when employers announced plans to shed 41,432 workers. The July figure was 59% higher than the 41,676 layoffs recorded in July 2010…
National Commercial Real Estate News From CoStar Group