Apr 5, 2019

The U.S. just had the most Q1 layoffs in a decade

Data: Challenger, Gray & Christmas, Inc; Chart: Axios Visuals

The U.S. saw its highest level of layoffs in a first quarter since 2009, data from staffing firm Challenger, Gray & Christmas released Thursday showed.

By the numbers: Employers cut 190,410 jobs in the first 3 months of the year — 10.3% higher than the number of layoffs announced in the fourth quarter of 2018 and 35.6% higher than job cuts announced in the same quarter of 2018.

The impact: It's the highest number of job cuts in a quarter since 2015.

Details: The financial industry saw the third highest number of layoffs and the year-to-date total was 239% higher than it was in 2018.

  • Retailers continue to lead all sectors in job cuts this year with 46,061 in Q1. However, that number is 18.5% lower than retail cuts announced in Q1 2018.
  • Retailers have announced plans to close 4,048 stores so far this year.

The bottom line: The report said worry about an economic slowdown was the main driver of companies' layoff intentions.

Go deeper ... "Job market is weakening": Private payroll job growth hits 18-month low

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Coronavirus updates: Market ends worst week since financial crisis

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens.

The stock market ended its worst week since the financial crisis, prompting the Fed to release a statement. Meanwhile, the WHO warned that countries are losing their chance to contain the novel coronavirus and raised its global risk assessment to "very high" Friday.

The big picture: COVID-19 has killed more than 2,860 people and infected more than 84,000 others in over 60 countries and territories outside the epicenter in mainland China. The number of new cases reported outside China now exceed those inside the country.

Go deeperArrowUpdated 7 hours ago - Health

California coronavirus: Latest case has no recent history of international travel

Gov. Gavin Newsom. Photo: Kevork Djansezian/Getty Images

A new case of the novel coronavirus in California was announced on Friday after Gov. Gavin Newsom said Thursday that 33 people had tested positive for the virus, noting the risk to the public remains low.

What's new: An adult woman with chronic health conditions in Santa Clara County who "did not recently travel overseas" or come into contact with anyone known to be ill was confirmed to have contracted the coronavirus on Friday by CDC and California Department of Public Health officials.

Go deeperArrowUpdated 8 hours ago - Health

Big video game conference delayed amid coronavirus concerns

Photo: GDC

Next month's Game Developers Conference in San Francisco became the latest tech event to be cancelled or postponed amid growing concerns over the spread of the novel coronavirus.

The big picture: A growing number of events are being scrapped, including Mobile World Congress and Facebook's F8 developer conference. Some, like the giant SXSW event in Austin, insist they are moving forward.