BUSINESS
US businesses cut more than 170,000 jobs in June - Economo
BUSINESS

US businesses cut more than 170,000 jobs in June - Economo

Published: July 2, 2020  |  2 min read, 447 words
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The US employers announced an additional 170,219 job cuts in June as the recession caused by COVID-19 reduced demand and pushed companies into bankruptcy, shows a new report.Although the layoffs reported by the global retraining company Challenger, Gray & Christmas, decreased by 57% compared to May, they jumped by 306% compared to June last year. Job cuts explain why the number of new applications for unemployment benefits remains extremely high, even after businesses reopen.“The impact of the recession is spreading to companies that have not been directly affected by the virus”, said... READ MORE
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