US layoff announcements ease in February after elevated cuts in prior month

Layoff Trends - U.S. employers announced 48,307 job cuts in February, down 55% from 108,435 in January and down 72% from 172,017 in February last year [1] - The total job cuts for January and February combined reached 156,742, the lowest for the first two months since 2022, and the fifth-highest since 2009 [2] Sector-Specific Layoffs - The tech industry led with 11,039 layoffs in February, totaling 33,330 for the year, a 51% increase from 22,042 in the same period last year [6] - The transportation sector announced 31,702 job cuts, an increase of 872% from 3,261 in the same period last year, influenced by the war in Iran affecting oil costs and supply chains [8] - Healthcare companies announced 19,228 job cuts, the highest for January-February since 2021 [10] - Education sector layoffs totaled 5,417 in February, bringing the total for the year to 6,209, a 96% increase from 3,160 in the same period last year [10] Reasons for Layoffs - Major reasons for job cuts included store or department closings (10,736), market and economic conditions (10,114), restructuring (9,146), and cost-cutting (5,636) [14] - In the first two months, market and economic conditions caused 38,506 cuts, followed by contract loss (31,416) and restructuring (29,190) [15] Hiring Trends - Hiring plans rose 140% in February to 12,755, although this figure is down 63% from 34,580 in February 2025 [16] - Employers announced plans to hire 18,061 workers in 2026, down 56% from 40,669 in the first two months of 2025 [16]