In March, U.S. employers announced the highest monthly job cuts (90,309) since Jan 2023, led by tech and government sectors.
In March, U.S. employers announced 90,309 job cuts, the highest monthly total since January 2023, marking a 7% increase from February. Technology and government sectors led the job cuts, with the tech industry seeing 42,442 job cuts since the start of the year. The U.S. government accounted for 36,044 announced layoffs in March, the highest since September 2011. Despite the increase in job cuts, year-to-date reductions are down 5% from the previous year, reflecting a strong job market amid high interest rates.
April 04, 2024
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