Midyear job cuts jump to highest level since 2010

Steep spending cuts in the energy sector and Target Corp.'s mass layoffs as it closed its Canadian operations drove midyear job cuts to the highest level since 2010, according to data tracked by outplacement firm Challenger, Gray & Christmas.

Employers announced 287,672 layoffs through June, a 17 percent increase compared to the same period last year, according to the report.

According to Dow Jones Newswires, employers also have boosted hiring efforts this year. Throgh June, employers announced 67,432 hires, compared with 61,042 a year earlier.

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