Recent figures suggest that job reductions in U.S companies have hit the highest mark since January 2023. These reports stem from the analytical firm, Challenger, Gray &amp; Christmas, Inc. In March alone, severances affected 90,309 employees, which are 7% greater than the February figure of 84,638 and surpass January's figure at 82,307.

Contrary to these numbers are the pronouncements of significant job growth - a whopping 275,000 jobs were filled in February, albeit the unemployment rate snuck up to 3.9%. Even with these increases in job positions, the first quarter concluded with surges in layoffs, though still less than the previous year. Amidst these tides, companies seem to lean back to the 'less is more' strategy, working their machinery harder with fewer hands.

While the Technology sector still holds the reins as the leading industry this year, a striking rising number of job losses are witnessed in other sectors such as Energy and Industrial Manufacturing. The total count of layoffs in the initial quarter of the year was pegged at 257,254, a marginal dip from the same quarter of the preceding year. A contributing factor to this was the roughly 117,163 job cuts in January 2023.

Within the first quarter, Technology saw the highest number of cuts, almost 42,442 positions eliminated largely due to restructuring. Meanwhile, the government reduced its workforce by 36,044 employees in March alone, largely implicated in the Veterans Affairs and Army departments. This figure hasn't been surpassed since September 2011.

Recent figures suggest that job reductions in U.S companies have hit the highest mark since January 2023. These reports stem from the analytical firm, Challenger, Gray &amp;amp; Christmas, Inc. In March alone, severances affected 90,309 employees, which are 7% greater than the February figure of 84,638 and surpass January's figure at 82,307.
Contrary to these numbers are the pronouncements of significant job growth - a whopping 275,000 jobs were filled in February, albeit the unemployment rate snuck up to 3.9%. Even with these increases in job positions, the first quarter concluded with surges in layoffs, though still less than the previous year. Amidst these tides, companies seem to lean back to the 'less is more' strategy, working their machinery harder with fewer hands.
While the Technology sector still holds the reins as the leading industry this year, a striking rising number of job losses are witnessed in other sectors such as Energy and Industrial Manufacturing. The total count of layoffs in the initial quarter of the year was pegged at 257,254, a marginal dip from the same quarter of the preceding year. A contributing factor to this was the roughly 117,163 job cuts in January 2023.
Within the first quarter, Technology saw the highest number of cuts, almost 42,442 positions eliminated largely due to restructuring. Meanwhile, the government reduced its workforce by 36,044 employees in March alone, largely implicated in the Veterans Affairs and Army departments. This figure hasn't been surpassed since September 2011.

Subscribe to Our Show for Real News, All Day Every Day

Subscribe to Our Show for Real News, All Day Every Day

Real News Now Podcast

Real News Now Podcast is a Podcast bringing you the Real News All Day Every Day!

<a href="https://realnewsnow.com/">Real News Now</a> Podcast is a Podcast bringing you the Real News All Day Every Day!

Advertisement