Surge In Layoffs Foreseen

[jeffrey]

Employers increased both hiring and layoff plans in August, according to a survey released Tuesday by an outplacement firm.

The survey by Challenger, Gray and Christmas found employers announced plans to cut 74,150 jobs in the upcoming months. That's up 6.6 percent from July's announced layoffs, and is the second highest monthly total since February.

Employers also announced plans to hire 132,105 in the weeks and months ahead. But John Challenger, president of the firm, said most of those new jobs are likely seasonal and temporary. The survey said 83,450 of the new hiring plans announced came from retailers.

"These expectations probably include the typical hiring surge that coincides with the coming of the holiday selling season," he said in a statement Tuesday. "While all hiring is good for the economy, it must be noted that many of the retail jobs added over the next few months may disappear by February."

Challenger said that the employers continue to be reluctant to add employees in the current economy.

"It appears that job-cut activity is holding steady in the 60,000 to 70,000 (a month) range, which is above pre-recession levels, but still encouraging nonetheless. The problem is that this holding pattern is being mimicked when it comes to hiring," he said... [read more at money.cnn.com]