Keeping Track: job cuts

By one count, a 40 percent drop in February

In another sign that the economic slump may be easing, announced job cuts hit their lowest level in eight months, according to the Chicago-based outplacement firm Challenger, Gray & Christmas, which has tracked job cuts since 1993.

Still, the six-figure job cuts underscore what many economists have been warning: Unemployment will get worse before it gets better. The rate, currently at 5.6 percent, is expected to top out at 6 or 6.5 percent by the middle of the year. Telecommunications was the industry hardest hit in February, with nearly 36,000 planned cuts.

You've read  of  free articles. Subscribe to continue.
QR Code to Keeping Track: job cuts
Read this article in
https://www.csmonitor.com/2002/0311/p16s01-wmgn.html
QR Code to Subscription page
Start your subscription today
https://www.csmonitor.com/subscribe