'No Hire, No Fire' Economy Rolls On As Job Cuts Plunge, Jobless Claims Hover Near Multi-Year Lows

U.S.-based employers announced 48,307 job cuts in February, down 55% from the 108,435 job cuts in January. It is down 72% from the 172,017 cuts announced during the same month last year, according to a report released Thursday from global outplacement and executive coaching firm Challenger, Gray & Christmas.

“February’s dip is a nice reprieve from the elevated job cut plans to start the year. With U.S. involvement in a growing war in Iran, the end of Q1 may bring more layoff plans as companies tighten belts amid uncertainty and higher costs,” said Andy Challenger, workplace expert and chief revenue officer for Challenger, Gray & Christmas.

Initial jobless claims hovered near multi-year lows at 213k last week...

However, continuing jobless claims picked up to 1.864 million Americans - the highest of the year...

So the 'no hire, no fire' economy rolls on...