US layoffs continue in June as manufacturing falls
WASHINGTON D.C.: In June, US manufacturing continued to decline, reaching levels last seen at the start of the COVID-19 pandemic. However, the cost of production also continued to drop.
The survey from the Institute for Supply Management (ISM), released this week, showed that the slowdown in production forced factories to layoff staff.
The lay-offs are happening "to a greater extent than in prior months,"