As the economic recovery continues to lose momentum, more job losses are on the horizon for thousands of Americans, according to a report released Wednesday. The number of planned job cuts rose 11.6% in June to 41,432 from May’s 37,135, according to outplacement consulting firm Challenger, Gray & Christmas.

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Training Americans for practical jobs that the nation actually needs should be a government priority, according to General Electric CEO Jeff Immelt, who heads President Obama’s jobs advisory panel.

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While the economy is still reeling from 8.5 million jobs lost in the recession, the outlook for job growth in America is looking up, former White House economic advisor Larry Summers said in an exclusive interview airing on CNN Sunday.

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