Monthly Layoffs Fall in June, But Nearly 20 Percent Higher Compared to 2023

Robust employment numbers can delay the Federal Reserve’s decision to cut interest rates.

Job seekers attend a job fair in Sunrise, Fla., on June 26, 2024. Joe Raedle/Getty Images

The number of layoffs announced in June declined on a monthly basis due to a seasonal trend, but remained high compared to last year, according to a recent report from outplacement firm Challenger, Gray & Christmas, Inc.

Employers announced 48,786 job cuts in June 2024, down 23.6 percent from May, said a July 3 press release by Challenger.