February Layoffs , Hit Highest Level Since 2009.
According to a report released by
Challenger, Gray & Christmas on March 7, companies cut 84,638 jobs in February.
That number represents a 3% increase
from January and a 9% jump
year-over-year, Fox Business reports.
As we navigate the start of 2024, we're
witnessing a persistent wave of layoffs. , Andy Challenger, senior vice president of
Challenger, Gray & Christmas, via Fox Business.
Businesses are aggressively slashing
costs and embracing technological
innovations, actions that are
significantly reshaping staffing needs, Andy Challenger, senior vice president of
Challenger, Gray & Christmas, via Fox Business.
Tech companies had the most
layoffs in February, over 12,000.
The sector has cut over 28,000 jobs since the beginning of 2024, Fox Business reports. .
Financial firms lost over 26,000 jobs
since the beginning of the year.
That is a 54% increase in layoffs for the sector compared to the same time last year.
Other sectors to experience significant layoffs this year include manufacturing, energy and education.
In light of the backlash some companies
have faced for directly attributing job
cuts to artificial intelligence, , Andy Challenger, senior vice president of
Challenger, Gray & Christmas, via Fox Business.
... they appear to be framing this
shift as a ‘technological update’
rather than an outright substitution
of human roles with AI, Andy Challenger, senior vice president of
Challenger, Gray & Christmas, via Fox Business.
In truth, companies are also
implementing robotics and
automation in addition to AI. , Andy Challenger, senior vice president of
Challenger, Gray & Christmas, via Fox Business.
It's worth noting that last year alone,
AI was directly cited in 4,247 job
reductions, suggesting a growing
impact on companies’ workforces, Andy Challenger, senior vice president of
Challenger, Gray & Christmas, via Fox Business
Credit: Wibbitz Top Stories Duration: 01:30Published
Hawkeyes Ticket Prices Surge , Following Caitlin Clark’s WNBA Draft Declaration.
Clark announced that she will enter the 2024 WNBA Draft on Feb. 29, Fox Business reports. .
Clark announced that she will enter the 2024 WNBA Draft on Feb. 29, Fox Business reports. .
While this season is far from over and
we have a lot more goals to achieve, it
will be my last one at Iowa. I am excited
to be entering the 2024 WNBA Draft, Caitlin Clark, via X.
While this season is far from over and
we have a lot more goals to achieve, it
will be my last one at Iowa. I am excited
to be entering the 2024 WNBA Draft, Caitlin Clark, via X.
It is impossible to fully express my
gratitude to everyone who has
supported me during my time at Iowa.., Caitlin Clark, via X.
Most importantly, none of this would have
been possible without my family and friends
who have been by my side through it all.
Because of all of you, my dreams came true. , Caitlin Clark, via X.
March 3 will mark the Hawkeyes'
season finale. They are currently 24-4.
Clark's WNBA Draft announcement has sent
ticket prices soaring for supporters hoping to watch her play one more time before she turns pro.
Clark's WNBA Draft announcement has sent
ticket prices soaring for supporters hoping to watch her play one more time before she turns pro.
According to TickPick.com, the secondary market's average ticket price for the Hawkeyes' upcoming game against Ohio State is $557.
According to TickPick.com, the secondary market's average ticket price for the Hawkeyes' upcoming game against Ohio State is $557.
As of Feb. 29, the cheapest available ticket was $487, and the most expensive was $2,919.
Clark is only 18 points away from breaking
the NCAA's all-time scoring record.
Clark is only 18 points away from breaking
the NCAA's all-time scoring record.
The late Pete Maravich, who played
for LSU from 1967-1970, currently
holds the record with 3,667 points
Credit: Wibbitz Top Stories Duration: 01:31Published
March Retail Sales , Exceeded Expectations.
New Commerce Department data surprised
some analysts on April 15, 'The Hill' reports. .
The agency's latest estimates indicate
that March retail sales increased by 0.7%.
They were only expected
to rise 0.3% last month.
While sales exceeded estimates for March, the jump
was still below the 0.9% increase in February.
Compared to the same time last year, total sales
for the first three months of 2024 were up 2.1%.
On April 10, the Labor Department released data showing that inflation rose last month. .
The consumer price index (CPI)
increased 0.4% in March and 3.5% annually.
In February, consumer prices
increased 3.2% year-over-year. .
Still, the newest Commerce Department data suggests that Americans continue to spend despite prolonged inflation, 'The Hill' reports.
Credit: Wibbitz Top Stories Duration: 01:30Published
Data Shows , US Wages Falling , at a 'Striking' Pace.
Fox News reports that wage growth
in the United States has slowed
significantly over the past year. .
According to new data from Indeed,
wage growth is beginning
to near pre-pandemic levels. .
Indeed's wage tracker showed that salaries have had
a marked drop since January 2022, suggesting that
employers are seeing less competition for new hires.
The pace of deceleration
is striking. Posted wage growth
has fallen by almost 3 percentage
points over the past year, Nick Bunker, Indeed labor economist, via Fox News.
Fox News reports that the most pronounced
deceleration was found in low-wage sectors. .
Given the huge run-up in posted
wages for those sectors, wage growth
is still above its pre-pandemic pace.
How long this will last is uncertain, Nick Bunker, Indeed labor economist, via Fox News.
After remaining historically tight throughout the last
year, the labor market is expected to continue slowing
in the coming months amid elevated interest rates.
Since March of 2022, the Federal Reserve has increased interest rates 11 times in an attempt to slow down inflation and cool the labor market.
Since March of 2022, the Federal Reserve has increased interest rates 11 times in an attempt to slow down inflation and cool the labor market.
In 2024, there have already been a number of significant layoffs, with major companies like Alphabet, Amazon and Citigroup cutting jobs. .
In 2024, there have already been a number of significant layoffs, with major companies like Alphabet, Amazon and Citigroup cutting jobs. .
In 2024, there have already been a number of significant layoffs, with major companies like Alphabet, Amazon and Citigroup cutting jobs. .
Despite this, job growth has
remained resilient, with employers
adding 275,000 jobs in February. .
At the same time, Labor Department
data shows that the unemployment
rate for the month also rose to 3.9%.
Credit: Wibbitz Top Stories Duration: 01:31Published
![February Layoffs Hit Highest Level Since 2009 [Video]](https://video.newsserve.net/300/v/20240307/1368002916-February-Layoffs-Hit-Highest-Level-Since-2009.jpg)
![Hawkeyes Ticket Prices Surge Following Caitlin Clark’s WNBA Draft Declaration [Video]](https://video.newsserve.net/300/v/20240301/1367419042-Hawkeyes-Ticket-Prices-Surge-Following-Caitlin-Clark.jpg)
![March Retail Sales Exceeded Expectations [Video]](https://video.newsserve.net/300/v/20240416/1372826444-March-Retail-Sales-Exceeded-Expectations.jpg)
![Data Shows US Wages Falling at a 'Striking' Pace [Video]](https://video.newsserve.net/300/v/20240319/1369527240-Data-Shows-US-Wages-Falling-at-Striking.jpg)
