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3
Mar

Job Cuts To Fall

By Bernard Coker

The numberr of job cuts may soon fall as employers, last month announced the fewes job cuts in 3 years. THis is good sign as it means companies may be invest in additional workers.

Planned firings fell 77 percent in February to 42,090, the least since July 2006, from 186,350 a year earlier, according to data collected by the job placement firm Challenger, Gray & Christmas Inc. Announcements decreased from 71,482 in January.

The U.S. probably lost 55,000 jobs in February after a 20,000 drop a month earlier, according to the median estimate of economists surveyed by Bloomberg News before a Labor Department report on March 5. The unemployment rate may have increased to 9.8 percent from 9.7 percent, according to the survey.

As employers may be try to retain existing staff, last quarter expanded at the fastest in six years. This would help mend consumer confidence, improving the prospect for spending this year and thereby the US economy as a whole.

Category : Economy News

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