92,351 jobs cut in January 2005, most in government sector

According to Challenger, Gray & Christmas of Chicago, employers cut 92,351 jobs in January 2005, a 15% improvement from the 109,245 jobs cut in December. The greatest number of cuts, 11,556, was in the government and non-profit sector. Financial and automotive companies also reduced a significant number of workers, dropping 11,220 and 10,537 respectively. The telecom sector, which cut roughly 51,000 jobs in the last four months of 2004, cut just 1,429 workers in January.