Planned Job Cuts Dominated By The Energy Sector

The energy sector continues to inflate Challenger's layoff count, at 61,599 in February following January's outsized 75,114. Layoffs in the energy sector were once again at the top of the list, at 25,051 vs January's 20,103. Layoffs here are spilling over into industrial goods where layoffs, tied to reduced demand for energy equipment, have also been high, at 4,060 in the latest month. Other sectors show much less damage but energy and energy-related troubles are likely to become increasing drags on the nation's employment.