Employers announced nearly 37,000 job cuts in July — a 2% from June and 45% down from a year ago.
CEO John Challenger says it’s not unusual to see a summer slowdown in layoffs. He warns this may be a lull before the storm.
“Companies are still midstream in their 2012 plans. They’re still, if things haven’t gone right, still trying to right the ship. Also, decision makers are out. And so often, those are deferred until September. We often see a surge then, and then we see the yearend surge as companies realize they haven’t met their expectations.”
Texas saw over 2,600 in July. That brings its total for the year to just under 37,000, the second-largest number of job losses for any state in the union.