51,000 job layoffs announced in February

March 8, 2012 at 1:54 PM

CHICAGO, March 8 (UPI) -- U.S. employers announced a reduction of 51,728 jobs in February, almost unchanged from the previous month, a private research group said.

Total job cuts announced for the month were only down 3.3 percent from the 53,486 job layoffs announced in January, outplacement consultancy Challenger, Gray & Christmas said.

For the year to date, layoff announcements are 18 percent higher in 2012 than they were a year earlier in January and February.

Unlike 2011, however, the business sector announcing the most layoffs this year has been consumer products and transportation. In 2011, job cuts in the first two months of the year were dominated by government job losses.

So far in 2012, consumer products firms have announced 16,320 job cuts, while the transportation sector has announced 15,835. Together, they account for more than 30 percent of the job cut announcements for the year to date.

Related UPI Stories
Latest Headlines
Trending Stories
Ted Cruz campaign pulls ad featuring softcore porn actress
Report: Clinton Foundation subpoenaed by State Dept. watchdog over charity projects
Ruby Rose, Gigi Hadid react to Kanye West's lyric about Taylor Swift
Kristen Wiig impersonates Peyton Manning on 'The Tonight Show'
NYC police officer found guilty of manslaughter in Brooklyn stairway shooting