US Hiring Intentions Pull Back While Job-Cut Announcements Rise

Hiring plans fell to the weakest level for any August on record and intended job cuts mounted amid broader economic uncertainty, according to outplacement firm Challenger, Gray & Christmas.

US-based companies announced in August plans to add 1,494 jobs, the fewest for the month in data going back to 2009. Of the 30 industries tracked by Challenger, hiring plans were concentrated in aerospace and defense, industrial goods and retail.