Employment consultant Challenger, Gray & Christmas Inc. reported that U.S. companies announced 20 percent fewer layoffs in March. However, the job cuts are still 27 percent more than those in March 2004. Large federal government budget deficits appeared to be hurting hiring and the largest number of job cuts came from the government and the aerospace and defense industry.
See "Fewer Layoffs Were Announced in March", The New York Times, April 5, 2005