The government followed with 36,044 layoffs in March, including 10,000 jobs from Veterans Affairs and 24,000 from the U.S. Army. It marks the highest monthly total for the sector since September 2011.
Job cuts jump to highest level since January 2023
The pace of job cuts by U.S. employers accelerated again in March, a sign the labor market is starting to deteriorate in the face of ongoing inflation and high interest rates.
That is according to a new report published Thursday by Challenger, Gray & Christmas, which found that companies planned 90,309 job cuts in March, a 7% increase from the previous month and a 0.7% increase from the same time last year.
It marked the highest monthly layoff total since January 2023.
