Wave of layoffs in the United States: February recorded the highest number since 2009

According to a report, more than 84,000 jobs were eliminated by US employers in February 2024, the highest number of job cuts in the second month of the year since 2009. Challenger, Gray and Christmas, This increase is about 9% more than the cuts announced during the same period in 2023, with the technology sector leading the number of layoffs, followed by financial firms.

Despite these discouraging figures, January and February saw a 7.6% decline in layoff totals compared to the previous year. The technology sector saw the highest number of layoffs, with 28,218 affected, while financial companies continued to see 26,856 layoffs.

This context reflects a 56% increase in job cuts in finance compared to the previous year, however technical layoff More than half fell. Sectors such as industrial manufacturing, energy and education also saw a significant increase in the number of layoffs. The main reasons behind this wave of layoffs include restructuring, store, unit or plant closure and cost cutting.

Despite this environment of cuts, new hiring announcements fell dramatically, the lowest number to start the year since 2009. Big name companies, including City, AboveAnd paypalhas announced plans to reduce staff cisco And Expedia The company is also making significant adjustments due to reduction in technology spending and declining demand in the travel sector respectively.

Its impact has been equally felt in the media industry, with a significant reduction in layoffs but an increase in the news sector, where organizations such as Los Angeles Times, nbcnews, Time And Sports Illustrated He has had to make adjustments in his staff.

Despite these challenges, the unemployment rate has increased usa The rate remains low from December to February with a rate of 3.7%, which is lower than the previous estimate. This phenomenon underscores the complexity of the labor market today, in which, despite notable waves of layoffs in various sectors, the overall level of unemployment has remained relatively stable.

layoff in usa The increase is due to various economic, global and national reasons. The main reasons are persistent inflation, which has increased costs for businesses and reduced purchasing power of consumers. This has led to a slowdown in demand for products and services.

Additionally, economic uncertainty resulting from factors such as geopolitical tensions has led many companies to adopt a more conservative stance, cutting expenses, including labor costs, to protect their financial health. Another relevant factor is the adjustment of interest rates by the Federal Reserve to control inflation, which has increased the cost of borrowing, affecting both business operations and investment.

These elements have combined to create a wave of layoffs across sectors ranging from technology to financial services, impacting the labor market. usa,