U.S. Employers Cut Over 90,000 Jobs in March, Most Since January 2023

• U.S.-based employers cut 90,309 jobs in March, the highest monthly total since January 2023, with over a third from federal government positions.

• The 36,044 federal job cuts in March were the highest single-month total since September 2011.

• March's job cuts raised the total number of cuts in Q1 2024 to 257,254, up 7% from February.

• Technology leads job cuts for the quarter with 42,442, followed by government and financial sectors.

• Job cuts so far in 2024 trail last year's pace - 270,416 jobs were cut by this point in 2023.