January sees lowest hiring month on record

U.S. companies saw the highest level of job cuts in January since early 2023 and the lowest planned hiring level for the month since 2009, according to a Feb. 1 report from CNBC.

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The report, citing research from executive coaching firm Challenger, Gray & Christmas, indicated that a January with poor hiring numbers might indicate trouble for the labor market in the coming year. 

January layoffs totaled 82,307, a jump of 136% from December, but down 20% year over year. 

Technology and finance were the hardest hit sectors. Jobless claims totaled 224,000 for the last week of January, up 9,000 from the previous week. 

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