A new report showed a 103% increase from January to February alone.
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00:00A new report revealed the U.S. just had its worst month of job cuts since 2009.
00:05The report, released by Challenger Gray and Christmas, showed U.S.-based employers slashed
00:09more than 172,000 jobs in February, an incredible 103 percent increase from the month prior.
00:16February marked the 12th highest monthly total since Challenger began recording job cuts.
00:21The other 11, including four during the COVID-19 pandemic, all occurred during a recession.
00:26The largest number of cuts came from the government sector.
00:29The new Department of Government Efficiency, or DOGE, led to the cutting of 62,242 jobs
00:36across 17 federal agencies, an increase of more than 41,000 percent from February 2024.
00:45Other industries that were hit hard by layoffs in February were retail with roughly 39,000
00:50cuts, technology with 14,500 cuts, and consumer products with roughly 11,000 cuts.
00:56However, the report did highlight one positive note.
00:59Companies made more than 34,000 hires last month, the best February for hiring since
01:042022.
01:05That'll do it for your daily briefing.
01:07From New York City, I'm Kelsea Barberio with The Street.