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Planned layoffs at U.S. firms fell for a fifth consecutive month in June, hitting the lowest since March 2008 and providing another hopeful sign as the economy struggles to end its worst recession in decades.
Planned job cuts announced by employers totaled 74,393 in June, down 33 percent from 111,182 in May, according to a report released on Wednesday by global outplacement consultancy Challenger, Gray & Christmas.
The data is likely to fuel hopes among economic optimists that the worst is over for the recession-bound U.S. economy, though the apparent improvement may have benefited from some seasonal factors, Challenger said.