🧵 1. In March, over 90,000 jobs were lost in the U.S., the highest monthly cut since January 2023, as companies adopt a "do more with less" strategy, says Challenger report. #business
🧵 1. In March, over 90,000 jobs were lost in the U.S., the highest monthly cut since January 2023, as companies adopt a "do more with less" strategy, says Challenger report. #business
🧵 2. So far this year, 257,254 jobs have been cut, although job losses in total are down from last year. The eastern region sees the most cuts, with over 94,000 job reductions.
🧵 3. Despite layoffs, U.S. unemployment has remained below 4% for 25 months, the longest stretch since the '60s. Unemployment rose to 3.9% in February but is expected to dip.
🧵 4. Andy Challenger of Challenger, Gray & Christmas notes that while technology leads in job cuts, energy and industrial sectors are cutting more jobs this year.
🧵 Read more at: https://www.forbes.com/sites/maryroeloffs/2024/04/04/layoffs-hit-14-month-high-march-2024-federal-government-army-veterans-affairs-job-cuts-tech-finance/
The whole do more with less has been going on way longer than just now. Everyone seems to have to work harder for less money too.