Layoffs south of the border hit their highest levels for a first quarter in 10 years as 2019's job market got off to a shaky start.
A report released Thursday by outplacement firm Challenger, Gary & Christmas found total announced cuts hit 190,410, a 10.3% increase from the fourth quarter and 35.6% jump from the same period a year ago. The level was worst period overall since the third quarter of 2015 and the highest level for a first-quarter since 2009 as the economy was still mired in the financial crisis.
The news comes amid conflicting signs for employment.
Non-farm payrolls growth surged by 311,000 in January but then slumped to just 20,000 the following month. Still, the unemployment rate is just 3.8%, near the lowest level in 50 years.
Economists expect Friday's report on payrolls from the U.S. Labor Department to show growth of 175,000 and the unemployment rate to stay unchanged. But there have been cracks lately that suggest the jobs climate is beginning to turn. For instance, private payrolls grew by just 129,000 in March, an 18-month low, according to a report Wednesday from ADP and Moody's Analytics.
