Survey: Job cuts fall again

CHICAGO (AP) — Job cuts were down in May for a third straight month.

The Challenger, Gray and Christmas outplacement firm’s monthly survey shows the number of job cuts fell to just over 36,000, a 4.5 percent drop from April. Historically, May is the slowest month of the year for job cuts.

Year-over-year, job cuts last month were down 41 percent from the same m onth a year ago. And job cuts for the first five months of this year are 11 percent less than during the same period in 2012.

The health care sector had the most job cuts in May — nearly 5,000. Challenger says hospitals are cutting staff to prepare for less revenue from Medicare with the Affordable Care Act. But John Challenger, the firm’s CEO, says hiring for other health care jobs has more than offset the cuts, averaging a net gain of 24,000 jobs a month over the past year.

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%@AP Links

140-a-10-(John Challenger, CEO, Challenger, Gray and Christmas, in AP interview)-”a year ago”-John Challenger of the Challenger, Gray and Christmas outplacement firm says job cuts declined for the third straight month in May. ((longer version of cut in wrap)) (6 Jun 2013)

<<CUT *140 (06/06/13)>> 00:10 “a year ago”

139-w-34-(David Melendy, AP correspondent, with John Challenger, CEO, Challenger, Gray and Christmas)–Layoffs declined in May for the third straight month. AP correspondent David Melendy has the details. (6 Jun 2013)

<<CUT *139 (06/06/13)>> 00:34

143-a-15-(John Challenger, CEO, Challenger, Gray and Christmas, in AP interview)-”site this year”-John Challenger of the Challenger, Gray and Christmas outplacement firm says even though hospitals have cut a lot of jobs in anticipation of less revenue from Medicare payments, the health care job cuts have been more than offset by new hiring. (6 Jun 2013)

<<CUT *143 (06/06/13)>> 00:15 “site this year”

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