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August Job Cuts Fall 17%

Challenger, Gray & Christmas' latest jobs report said August job cuts were down 17% to 34,768 from the 41,676 cuts announced in July.
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NEW YORK (TheStreet) -- Challenger, Gray & Christmas' latest jobs report said August job cuts were down 17% to 34,768 from the 41,676 cuts announced in July. The August figure is the lowest monthly total in over a decade.

"This marks the first decline following three consecutive months of increases," the report from the consultancy firm said.

Job cuts last month were 55% below the 76,456 planned cuts the same time last year, the report says. Furthermore, so far in 2010, monthly totals are, on average, 62% lower than the year-ago figure.

Overall, the 374,121 job cuts through August are down 65% from the 1,070,504 layoffs announced a year ago, the report said.

-- Written by Andrea Tse in New York.

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