Layoffs in the U.S. decreased by nearly half in June compared to the previous month,

 

Layoffs in the U.S. decreased by nearly half in June compared to the previous month, primarily due to a decline in job cuts in the tech industry, as reported by Challenger, Gray & Christmas.  The executive outplacement firm still noted that June's job cuts were higher compared to the same period last year. The tech industry experienced 141,516 layoffs in the first half of this year, a substantial rise from about 6,000 during the same period last year, the firm reports. The sector laid off nearly 5,000 employees last month. June is typically the slowest month for job cut announcements, according to Andrew Challenger, the firm's senior vice president. He suggested that expected job losses due to inflation and interest rates may not happen, especially since the Federal Reserve last month kept interest rates steady. According to Layoffs.fyi, a website that tracks tech layoffs, nearly 213,000 employees were let go in 2023. Its data show that 10,524 employees were laid off in June, down from 84,714 layoffs in January.