The U.S. just had the most Q1 layoffs in a decade.

[Cattledog]

The U.S. saw its highest level of layoffs in a first quarter since 2009, data from staffing firm Challenger, Gray & Christmas released Thursday showed.

By the numbers: Employers cut 190,410 jobs in the first 3 months of the year — 10.3% higher than the number of layoffs announced in the fourth quarter of 2018 and 35.6% higher than job cuts announced in the same quarter of 2018.

The impact: It's the highest number of job cuts in a quarter since 2015.

Details: The financial industry saw the third highest number of layoffs and the year-to-date total was 239% higher than it was in 2018.

Retailers continue to lead all sectors in job cuts this year with 46,061 in Q1. However, that number is 18.5% lower than retail cuts announced in Q1 2018.
Retailers have announced plans to close 4,048 stores so far this year.
The bottom line: The report said worry about an economic slowdown was the main driver of companies' layoff intentions.

https://www.axios.com/us-q1-layoffs-in-a-decade-6309b133-5212-4204-976b-347de6f4ad41.html?fbclid=IwAR2MADPgOsilkHZsgGOGv29cMJ7AMEeWPfnjULC_rNa7aBXKVU0wITPIDVQ

[Hortensis]

1. I read elsewhere that only about 2% were from offshoring.

Most due largely to changes in consumer behaviors and technology. Also retrenching due to real concern about possible economic downturn. Guessing most jobs in this latter group won't be coming back either.

[beachbum bob]

2. mostly retailers closing stores as we are in a changing economy for purchasing

[OnlinePoker]

3. DailyJobCuts has been pretty active showing closings and layoffs

Small retailers shuttering as well as some chains closing stores. What strikes me is the service professions like firefighters, teachers and healthcare workers that are seeing layoffs. That's not a good sign.

http://dailyjobcuts.com/

[Sherman A1]

4. Thanks for posting

not a surprise based upon the advance of AI and the store closings as noted in the posts above.