Report: Employers Cut 50,000 Jobs In February

LOS ANGELES (CBS/AP) — Planned job cuts by U.S. employers are surging in 2011, according to a new report.

Outplacement firm Challenger, Gray and Christmas, a firm that keeps track of layoffs, says the number of planned job cuts announced by employers increased for the second straight month in February to more than 50,000.

CEO John Challenger tells KNX 1070 that's the highest total since March of 2010.

Challenger says the largest portion of the layoffs came from government and nonprofit employers.

Most occurred at the state and local level, but the U.S. Postal Service says it has reduced its headcount by 5,600 in recent months.

Challenger says private-sector employers are recovering from the recession, but the government is not and will likely continue to cut jobs.

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