Challenger, Gray & Christmas reported that planned job cuts rose for the second consecutive month in February.
There were 50,702 planned layoffs in February -- a jump of 32% compared to January's layoffs -- and the highest total since March 2010.
February' s job cut numbers are also 20% higher than planned layoffs announced in February 2010 making this the first year-over-year increase in monthly job cuts since May 2009.
Roughly a third (32.3%) of the layoffs last month came from government and non-profit employers.
Despite the consecutive monthly increase in planned job cuts, layoffs still remain relatively subdued compared to a year ago.
Read the press release.