Layoffs Soared in April

The number of layoffs announced by U.S. companies jumped by 71% in April over March, according to Chicago-based job placement firm Challenger, Gray & Christmas. The number of job cuts reported rose from 85,396 in March to 146,399 in April, although 40% of them came in the public sector. For the year, 502,194 job eliminations have been announced, the firm reports.