Challenger Gray & Christmas report fewer layoffs in June

According to a survey by outplacement consultants Challenger Gray & Christmas, June saw corporate layoff announcements drop to the slowest pace in 15 months. During June, 74,393 people were laid off -- which was 33 percent lower than May's 111,182 layoffs and 9 percent less than a year ago. Moreover, announced cuts have exceeded the 100,000 mark each month dating back to last September.

In the past six months, 896,675 jobs have been cut -- the largest figure the group has seen since it began tracking announcements in 1989. In addition, before we get too excited about the fact that June's layoff numbers have decreased, let's take into account that Challenger Gray & Christmas only track announced job cuts -- there are many more layoffs that don't receive the same billing as others, and the figures are not seasonally adjusted.