Economic Report:

Planned layoffs saw a massive jump in April – an increase of 68 percent over March. A new report from Challenger, Gray, and Christmas showed U.S. companies planning to cut more than 90,000 jobs when surveyed throughout April, that is up 27 percent since April of 2007. The financial sector is feeling the biggest pinch with 23,106 of those jobs slashed in April. Transportation telecommunication industries were both nearly tied for second both letting go of nearly 8000 jobs each.