After nearly five years of slow but steady job gains, the number of Americans out of work for six months or longer has remained stubbornly high. However, according to one employment authority, the jobs recovery is approaching a tipping point that could see a rapid acceleration of hiring among those who have been out of work the longest.
Turnover among the nation’s chief executive officers declined 14.5 percent in February, as 112 CEOs left their posts during the month. While last month’s total was down from 131 CEO departures in January, it was the heaviest February turnover since 2010 when 132 changes were recorded, according to a report released Wednesday by global outplacement consultancy Challenger, Gray & Christmas, Inc.
The pace of downsizing declined slightly in the second month of the new year, as U.S.-based employers announced plans to cut payrolls by 41,835 in February. The February total was 7.3 percent lower than the 45,107 job cuts employers announced to kick off 2014, according to the report Thursday from global outplacement consultancy Challenger, Gray & Christmas, Inc.