India, Aug. 12 -- Layoffs in the US rose sharply in July, reaching their highest level since the early months of the COVID-19 pandemic.

Outplacement firm Challenger, Gray & Christmas reported 62,075 job cuts last month, up 29 percent from June and 140 percent higher than the 25,885 recorded in July 2024.

The figure is well above the post-pandemic average for the month of 23,584 between 2021 and 2024, and slightly higher than the past decade's July average of 60,398. It brings total layoffs this year to 806,383, a 75 percent rise on the same period in 2024 and already 6 percent higher than the full-year total for last year.

It is the highest January-to-July figure since 2020, when pandemic shutdowns pushed layoffs above 1.8 million.

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