U.S.-based employers announced fewer layoffs in March than during the previous month, but 2016 is still turning out to be a tougher year for workers as job cuts spread beyond the American oil patch, a report said Thursday.
"Job cuts have slowed since surging in the first two months of the year, but the pace is still well above that of 2015," Challenger, Gray & Christmas CEO John Challenger said in a statement. "And, it is not just the energy sector that is seeing heavier job cuts. Layoff announcements have increased significantly in the retail sector and computer sector as well."
March marked the second-consecutive period of month-to-month decreases, as employers said they expected to hand out 48,207 pink slips, a nearly 22 percent decline from February.
But on a year-over-year basis, total layoffs were up nearly 32 percent both in March and for the first quarter of 2016.