Transcript:
Kelsey Barberio: A new report shows that the worst month of jobs in the United States has been working since 2009. Reports released by Challengers, Gray and Christmas show that U.S.-based employers cut more than 172,000 jobs in February, up 103% from the previous month.
February is ranked 12th per month since Challenger started recording job layoffs. The other 11, including four during the pandemic on the 19th, all occurred during the recession.
Related: US job cuts for 16 years as the trade war involves hammer sentiment.
The most cuts come from government departments. The new government efficiency department (or multiple doors) resulted in the layoffs of 62,242 jobs in 17 federal agencies. This has increased by over 41,000% since February 2024.
Other industries in the retail industry have suffered restrictions on layoffs, with about 39,000 cuts, technology with 14,500 and consumer products with about 11,000 cuts.
However, the report does highlight a positive note. The company hired more than 34,000 employees last month – the best recruitment in February since 2022.
This will do for your daily briefing. From New York City, I’m Kelsey Barberio and TheStreet.
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