US Job Cut Announcements Ebb After Jumping in January

Layoff announcements at US companies subsided last month from a January surge, adding to signs of stabilization in the labor market.

Companies last month announced 48,307 job cuts in February, less than half of the prior month’s total — which recorded the most for any January since 2009, according to data from outplacement firm Challenger, Gray & Christmas Inc. Planned layoffs were down 72% from a year ago, when the Trump administration moved quickly to slash the federal workforce.