Fewer Corporate Job Cuts

The latest data from global outplacement consultancy Challenger, Gray & Christmas confirms what TMT reported in late March: Overall, job cuts have declined, but job cuts among nonprofit and government employers continue to rise.

Challenger data shows employer-announced job cuts are 71 percent lower in April than same month last year, and the April figure of 38,326 is the lowest since July 2006.

Nevertheless, in April, nonprofit and government employers announced plans to shed 14,973 jobs. That's nearly 40 percent of the month's total. And, as Challenger points out, it's nearly 182 percent higher than the sector with the second-ranked industry, pharmaceuticals, which announced 4,567 job cuts for the month.

Even as corporations regain their footing, government and related organizations now falter—and their financial challenges have employment consequences.