Planned layoffs fell for the third straight month in August, dropping to a 20-month low, though the outlook still remains uncertain, according to data from consulting firm Challenger, Gray & Christmas Inc.

U.S.-based employers said in August that they planned to cut 32,239 jobs, down 37% from a year ago, and down 12.5% from July. This is the fourth time in 2012 that employers have announced fewer job cuts than the same month in 2011.

The job-cut tally for the year reached 352,185, down 3% from the same period a year ago.

The telecommunications sector led the August downsizing, with plans to shed 4,584 jobs. Most of these cuts--4,000 out of the total--come from the anticipated cuts resulting from Google Inc.'s (GOOG) acquisition of Motorola Mobility.

Computer firms, meanwhile, rank as year's the top job-cutters, having announced 37,670 job cuts since the start of the year.

Though fewer job cuts over the last three months have effectively reversed a trend that saw increased downsizing through the first half of 2012, it is too early to determine whether this will continue, Chief Executive John A. Challenger said.

"If international job-cut activity is any indication, we may see a surge in downsizing in the final months of 2012 and into 2013," said Mr. Challenger.

Though the consulting firm doesn't officially track downsizing by foreign companies, Mr. Challenger said it has been hard to miss some of the recent figures coming from overseas firms, including 10,000 job cuts recently announced by Sony Corp. (SNE, 6758.TO).

"The U.S. does not exist in a bubble," said Mr. Challenger. "The ongoing crisis in Europe and weak economies around the globe will undoubtedly take a toll on the economy."

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