Fewer layoffs occurred in the first half of 2017 compared to the same time frame last year. There were 227,000 job cuts planned for this year through June, a 28% decrease from the first six months of 2016. For the month of June alone, 31,105 job cuts were planned. This is 6% lower than May 2017 and 19% lower than June 2016.
Even though layoffs are slowing overall, some industries are still suffering. The retail sector, in particular, has seen a drastic decrease in its workforce, announcing more than 60,000 layoffs so far this year, as businesses give more attention to their online sales. The healthcare and automotive industries are also among the top industries cutting jobs. Regionally, California, Texas, and Ohio are taking the largest job cuts.
Recruiters specializing in these industries and regions may see an influx of newly laid off talent looking for work.
Source: Society for Human Resource Management, Layoffs Down in First Half of 2017
