U.S. layoff announcements rose 7% in March to the highest since January 2023, led by technology and government-sector job eliminations, though cuts announced year to date are down 5% from a year ago amid a still-strong job market, a report out on Thursday showed. Job cut announcements increased to 90,309 in March from 84,638 in February, outplacement firm Challenger, Gray & Christmas said. The technology industry continued to outpace other sectors in jobs cuts through the first quarter of this year, announcing 14,224 in March and 42,442 since the year began.
Layoffs in the U.S. rose 7% in March to the highest level in over a year as companies continued to battle deteriorating market and economic conditions.
US Layoffs Reach 14-Month High Amid Government, Tech Cutbacks usnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from usnews.com Daily Mail and Mail on Sunday newspapers.
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The weekly claims report from the Labor Department also showed fewer people remaining on jobless rolls toward the end of March, suggesting that laid-off workers continued to find work