Planned Layoffs Moderate In August

Lay-off announcements, at 41,186, were moderate in August and far lower than the 105,696 in July which was skewed higher by a massive Army cutback. August layoffs were led by the retail sector reflecting the bankruptcy of the A&P supermarket chain. Layoff levels in this report have generally been on the low side but are not nearly as striking as actual jobless claims which are extremely low. This report will have no effect on expectations for tomorrow's employment report which is expected to be moderate to soft and in line with trend.