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11,000 fewer people signed up for unemployment benefits last week -- which is perhaps a hint of improvement for the labor market. Another tentative sign of hope? In May, 4.5 percent fewer people were laid off than the previous month, according to outplacement firm Challenger, Gray & Christmas.

CEO John Challenger joins Marketplace Morning Report host David Brancaccio to discuss which sectors are cutting back.

Follow David Brancaccio at @DavidBrancaccio