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MARKETS ANXIOUS: Nonfarm payrolls report may show that more workers were laid off last month than economists thought.

MARKETS ANXIOUS: Nonfarm payrolls report may show that more workers were laid off last month than economists thought.

Pace of job losses slows, planned layoffs rise

Recession blues continue to put pressure on the US job market with layoffs rising for the first time in the past six months. Job cuts announced by employers jumped 31 per cent in July to over 97,000 after planned job cuts had fallen to a 15-month low in June. In a report published by global outplacement consultancy Challenger, Gray and Christmas Inc monthly job cuts are likely to return to the level in excess of 1 lakh by the fourth quarter.

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