WASHINGTON: US employers announced another 115,762 job cuts in August, led by struggling airlines as the COVID-19 pandemic weighs on travel and financial assistance from the government lapses.
"An increasing number of companies that initially had temporary job cuts or furloughs are now making them permanent." Government assistance to workers and employers led to a sharp rebound in economic activity, but its expiration in recent weeks has left the recovery from the depths of the coronavirus crisis floundering.
According to Challenger, Gray & Christmas, transportation companies announced 26,545 job cuts in August, bringing the tally this year to 131,571 jobs, a 482 per cent increase compared to the January to August period in 2019.
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