US Job Market Stays Strong Despite Widespread Layoffs from mit institute of design mit id pune Watch Video

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✓ Published: 05-Apr-2024

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US Job Market , Stays Strong Despite , Widespread Layoffs.<br/>'Newsweek' reports that government job cuts are at the highest <br/>they've been since September of 2011, with the most recent <br/>wave of layoffs hitting Army and Veterans Affairs offices.<br/>The latest data from job search and coaching firm <br/>Challenger, Gray & Christmas, Inc. comes amid <br/>job losses in different industries across the U.S. .<br/>Government agencies cut <br/>over 36,000 jobs in March, <br/>with 10,000 layoffs coming <br/>from Veterans Affairs.<br/>Overall, over 90,000 positions were <br/>eliminated by employers last month, <br/>a 7% increase from February's numbers.<br/>Layoffs certainly ticked up<br/>to round out the first quarter, <br/>though below last year's levels. <br/>Many companies appear <br/>to be reverting to a <br/>'do more with less' approach, Andy Challenger, workplace and labor expert at <br/>Challenger, Gray & Christmas Inc., via 'Newsweek'.<br/>Since the beginning of 2024, technology firms <br/>cut over 42,000 positions, with tech companies <br/>reducing over 14,000 positions in March alone.<br/>While Technology continues to <br/>lead all industries so far this year, <br/>several industries, including Energy <br/>and Industrial Manufacturing, are <br/>cutting more jobs this year than last, Andy Challenger, workplace and labor expert at <br/>Challenger, Gray & Christmas Inc., via 'Newsweek'.<br/>While Technology continues to <br/>lead all industries so far this year, <br/>several industries, including Energy <br/>and Industrial Manufacturing, are <br/>cutting more jobs this year than last, Andy Challenger, workplace and labor expert at <br/>Challenger, Gray & Christmas Inc., via 'Newsweek'.<br/>Q1 of 2024 also saw financial firms cut <br/>positions, slashing nearly 29,000 jobs.<br/>Despite the waves of layoffs, experts suggest <br/>that workers are still experiencing <br/>a strong labor market. .<br/>Strong growth of 184,000 jobs, <br/>strong pay growth per job changers, <br/>and these sentiment indicators both <br/>in the manufacturing survey and our <br/>own worker sentiment and that is still <br/>seeing a pretty solid, maybe even <br/>good to great, jobs market for 2024, Nela Richardson's, ADP Research Institute <br/>chief economist, via 'Newsweek'