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For example, layoffs dropped to 1.8 million in June, from nearly 2 million in May. June's total is below pre-recession levels and indicates that companies aren't cutting more jobs, despite sluggish growth. And the number of people that quit their jobs also ticked down slightly to 2.1 million, from 2.2 million in May. That's still higher than a year ago, when only 1.9 million people quit. When more people quit their jobs, it can be a sign of a strengthening job market. That's because most people quit when they have a new job, usually with better pay. The number of quits is still far below the pre-recession level of about 2.7 million. Overall, companies hired nearly 4.4 million people in June, down from 4.5 million in May, the JOLTS report showed. At the same time, nearly 4.3 million people were laid off, quit or left jobs for other reasons, such as retirement. The difference between those two figures is similar to the net job gain that the Labor Department includes in the employment report each month.
[Associated
Press;
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