US DATA IMPACT: March Layoff Slow; Q1 Layoffs High Since 2009

By Kevin Kastner

     WASHINGTON (MNI) - There were 60,587 layoff intentions announced in March,

down from 76,385 in February and roughly unchanged from the 60,357 level in

March 2018, job placement firm Challenger, Gray and Christmas, Inc. said in a

report released Thursday. 

     However, the March total was enough to push the first quarter total to

190,410, the highest recorded for the first quarter of the year since 2009.

There were 172,601 layoffs in the fourth quarter of 2018 and 140,379 layoffs in

the first quarter of 2018. 

Here are some key takeaways from the report:

- Challenger noted that uncertainty about future and concerns about a downturn

are key factors in the recent boost in layoffs. Firm restructuring was the top

reason for layoffs so far 2019. 

- For March, the auto and energy sectors were the largest layoff categories,

while retail layoffs slowed, but remained the main contributor to layoffs in

2019.

- Hiring intentions in March were led by autos (10,250 out of 16,368 total).

- The data suggesting that businesses are reluctant to maintaining their current

staffing or add to it due to concerns about future conditions.

--MNI Washington Bureau; tel: +1 202-371-2121; email: kevin.kastner@marketnews.com

[TOPICS: MAUDS$,M$U$$$]