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CHICAGO (AP) — Outplacement firm Challenger, Gray and Christmas says employers last month announced the fewest job cuts since June of 2000.
Job cuts plunged 24 percent from August, to about 30,000 in September. That's also down 24 percent from September a year ago.
Firm CEO John Challenger says job security "is being helped by the fact that corporate profits remain near record highs."
He says if job cuts continue at the current pace, 2014 could end with fewer than 500,000 -- something that hasn't happened since 1997.
The entertainment industry had the most job cuts last month, with more than 7,000 of them from the closure of casino resorts in Atlantic City. But Challenger says that isn't an indication of the overall economy "as much as an indication of trends re-shaping the casino industry."
He says as states allow gambling in more cities, "destinations like Atlantic City start to lose their draw."
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%@AP Links
116-a-16-(John Challenger, CEO, Challenger, Gray and Christmas, in AP interview)-"seen since 1997"-John Challenger of Challenger, Gray and Christmas says the September job cuts continued a pace that could end the year with the fewest cuts since before the turn of the century. ((longer version of cut in wrap)) (2 Oct 2014)
<<CUT *116 (10/02/14)££ 00:16 "seen since 1997"
114-w-35-(David Melendy, AP correspondent, with John Challenger, CEO, Challenger, Gray and Christmas)--A private survey shows the job cuts in September were the fewest in 14 years. AP correspondent David Melendy reports. (2 Oct 2014)
<<CUT *114 (10/02/14)££ 00:35
115-a-12-(John Challenger, CEO, Challenger, Gray and Christmas, in AP interview)-"since June 2000"-John Challenger of Challenger, Gray and Christmas says job cuts in September hit a 14-year low. (2 Oct 2014)
<<CUT *115 (10/02/14)££ 00:12 "since June 2000"
117-a-15-(John Challenger, CEO, Challenger, Gray and Christmas, in AP interview)-"of their draw"-John Challenger of Challenger, Gray and Christmas says the entertainment and leisure industry had the most job cuts last month, with 7,000 from the closure of casino resorts in Atlantic City. (2 Oct 2014)
<<CUT *117 (10/02/14)££ 00:15 "of their draw"
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