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The number of layoffs in the US hit a record low in May, jobs data from the Bureau of Labor Statistics (BLS) showed.
It’s a sign that companies are clinging onto their workers during a severe labor shortage.
The layoffs and discharge rate dropped to 0.9% in May, according to the BLS report released Wednesday, a record low dating back to 2001. This means that for every 1,000 workers, nine were laid off.
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