Feb. layoff announcements fall 3%: Challenger

WASHINGTON (MarketWatch)
U.S. employers announced workforce reductions totaling 51,728 during February, down 3.3% from January levels, according to the latest job-cut report released Thursday by global outplacement firm Challenger, Gray & Christmas, Inc
The pace of downsizing is up 18% over last year, with 105,214 job cuts announced through the first two months, compared to 89,221 during the same period in 2011
 Through the first two months of 2012, job cuts have been concentrated in consumer products and transportation
"Both sectors are undoubtedly feeling the impact of rising fuel prices as heavy users of fuel, but also from their dependency on consumers, who are being forced to spend more on gasoline and less on the products and services provided by these firms," said CEO John Challenger