On Thursday morning, consulting firm Challenger, Gray & Christmas issued an alarming report: U.S. employers announced 108,435 job cuts in January, the highest total for the month since 2009, when the economy was in the final months of the Great Recession.
The announcement set off a wave of panic-inducing headlines comparing today’s labor market to the depths of the financial crisis.
But a closer look at official government data—and the recent trajectory of Challenger’s own reports—suggests the picture is far less dire than the headlines suggest.
While Challenger tracked surging layoff announcements, actual unemployment claims told a markedly…
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