US LAYOFFS FALL TO LOWEST LEVEL IN NEARLY A YEAR

American employers announced fewer layoffs in July than the year before, marking the first year-over-year decrease in more than a year and bolstering prospects that a resilient labor market will help the economy avoid a recession. U.S.-based employers announced 23,697 job cuts in July, a 42% drop from the number of layoffs announced in June and an 8% decrease from July 2022, according to a report released on Thursday by employment firm Challenger, Gray & Christmas. It was the first year-over-year decrease since May 2022, and July also had the fewest announced layoffs since August of last year.

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