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US layoffs hit 75,114 in Jan, surging to 6-month high:


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US layoffs hit 75,114 in Jan, surging to 6-month high: Challenger
Tom DiChristopher | @tdichristopher
9 Mins AgoCNBC.com


Image Source | Getty Images
Layoffs surged in January to the highest levels since July as employers in the retail and energy sectors pulled out the pink slips, according to a private survey out Thursday.

U.S.-based companies announced 75,114 planned job cuts last month, up more than 200 percent from a 15-year low in December, according to global outplacement firm Challenger, Gray & Christmas. That figure was also 42 percent higher from a year ago.

Retailers were the biggest job cutter, despite a nearly 8 percent bump in U.S. holiday sales in 2015. The sector slashed 22,246 positions, a seven-year high.

Wal-Mart accounted for much of the payroll reductions. The nation's largest retailer said it plans to close 269 stores and expects to let go 16,000 workers.

Macy's said it will also shutter some locations this year, costing 4,820 employees their jobs.

January delivered a fresh round of energy sector layoffs, as well. Announced payroll reductions of 20,246 marked the highest monthly total since the start of the oil price rout in mid-2014 that has sent crude prices spiraling about 70 percent and led to massive cost-cutting in the U.S. oil patch.

The report was released a day before the Labor Department releases its jobs report for January. On Wednesday, ADP and Moody's Analytics reported that that job growth in the private sector slowed in January.



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It's OK, nothing to see here. The unemployment rate is close to zero and everything is wonderful