US-based employers announced plans to cut payrolls by 33,825 in August

"U.S.-based employers announced plans to cut payrolls by 33,825 in August, a 19.4 percent increase from the 28,307 recorded cuts announced in July," Challenger, Gray & Christmas, Inc announced on Thursday.

Key takeaways:

• The August job-cut total is 5 percent higher than the same month last year, when 32,188 cuts were recorded.
• This month’s total marks the first increase in job cuts in the past five months of this year.
• Job cuts have declined each month of this year following the announcement of 43,310 payroll cuts in March.
• So far this year, employers announced 289,132 planned job cuts, down 26.1 percent from the 391,288 cuts announced through the first eight months of 2016.