California bosses laid off 236,000 workers in March, highest since December 2020.
California bosses laid off 236,000 workers in March, a 60% jump from the average pace of job cuts in the previous 12 months.
The bump in worker discharges is also a warning signal that the Federal Reserve’s year-long attempt attempts to cool an overheated economy with soaring interest rates are making bosses antsy. Plus, it’s not a one-month uptick. Bosses laid off 1.84 million in the past 12 months – up 13% from 1.63 million in the previous 12 months.
The need for employees equals 4.8% of all workers in March. That’s down from the 6.3% average in the previous 12 months, but it’s still well above the 3.9% pace of 2015-19, and 2.9% in 2002-2006.
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