Employers announced 50,462 layoffs in August
Planned cuts reach a six-month high
The number of planned layoffs at U.S. firms reached a six-month high, with industrial goods manufacturers taking the hardest hit.
Employers announced 50,462 layoffs last month, up 33.8% from 37,701 in July, according to the report from consultants Challenger, Gray & Christmas, Inc.
"Heavy job cuts in the industrial goods sector are never a good thing, as they can be indicative of widening cracks in the economy's foundation," said John A. Challenger, chief executive officer of Challenger, Gray & Christmas.