California Ranks In Top Five With Most August Job Cuts

California has the dubious honor of being in the top five of states reporting the most job cuts. According to Andrew Challenger with the executive coaching firm Challenger, Gray and Christmas, California ranked at number five with just under 2,100 jobs cut last month. 

"Job cuts overall this year have been significantly lower than just a year ago. In fact, in the first eight months of the year, we're down 26.1%, as compared to this time last year." 

California leads the nation overall with the most jobs cut year-to-date with just under 39,000 jobs lost. Across the state, retail jobs were the most affected industry thanks to cost-cutting, closing stores and company restructuring. 

"The one sector that we continue to see cutting is in retail, brick and mortar stores, are continuing to cut jobs. However, a lot of retail companies are starting to do hiring in the backrooms, in shipping and handling," Challenger said. 

South Carolina, New Jersey, Illinois and Texas ranked one through four with the most jobs cut in August. 

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