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News Link • Economy - Economics USA

February Layoffs Spike To 11-Month High, As Municipalities Continue To Slash

This isn't usually a report that's that closely followed, but slightly interesting... According to Challenger, layoffs spiked in February to an 11-month high. It was the first year over year increase since May 2009. The municipal sector was particularly weak. The largest portion of layoffs last month came from government and non-profit employers, which announced 16,380 job cuts, up 154 percent from 6,450 in January and 196 percent higher than a year ago when 5,528 job cuts were announced in February. While most of the cuts occurred at the state and local level, the United States Postal Service announced that it reduced its headcount by 5,600 in recent months. A little bad news before Friday's big report.

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