March 5, 2008
Job cuts remain flat in February
Planned job cuts announced by American employers were virtually unchanged in February, falling just 3.9 percent during the month to 72,091 from 74,986 in January, according to a monthly report by Challenger, Gray & Christmas.
While job cuts were down slightly, increased layoffs by government agencies and retailers provided further evidence that the impact of the housing slump is spreading beyond the housing and financial sectors.
February job cuts were 14.2 percent lower than the same month a year ago, when employers announced plans to reduce workforces by 84,014 jobs.
Through the first two months of 2008, job cuts totaling 147,077 are nearly even with the 146,989 job cuts announced in January and February of 2007.
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