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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: Sully- who wrote (45792)	4/2/2002 1:31:52 PM
From: Sully-	Respond to of 99280

Reuters Layoff Plans Fell 20 Percent in March NEW YORK (Reuters) - Layoff announcements at U.S. firms fell in March to the lowest level in 10 months but remained higher than the monthly average during the last recession, suggesting recovery could be slow and uneven, Challenger, Gray & Christmas said on Tuesday. The outplacement firm said job cuts announced in March totaled 102,315, 20 percent fewer than the 128,115 layoff announcements in February. But Challenger warned that although an economic recovery may be underway, it is still too early to declare a persistent reversal of the rising trend in unemployment. ``Certain industries will continue to struggle,'' said John Challenger, chief executive of the Chicago-based firm. The retail sector announced the most job cuts last month, followed by the recession-hit telecommunications industry. The Challenger report comes as financial markets await the Labor Department's monthly jobs report for March, due on Friday. Economists polled by Reuters expect that report to show a second straight monthly increase in U.S. payroll employment. On average, analysts predicted the nation's non-farm sector added 41,000 new workers to payrolls in March, below a 66,000 rise in February. They forecast the unemployment rate to rise to 5.6 percent in March from 5.5 percent in February. biz.yahoo.com