Job market on roller coaster effect

By WEEK Producer

Job market on roller coaster effect

February 1, 2013 Updated Feb 1, 2013 at 4:04 PM CDT

WASHINGTON, D.C. -- There is good news and bad news on the job front.

According to a private outplacement firm, job cuts were relatively stable in January.

However, the first month of the year did see an increase by a total of 24 percent but the good news is that, overall, job cuts were 24 percent lower than this time last year.

More than 40,000 workers were laid off, mostly in the financial and retail industries.

It appears the planned layoffs will be offset by planned hiring. The majority of jobs in coming months are expected to come from Lowe's Hardware, which recently announced plans to add 54,000 seasonal workers nationwide.

Americans are likely to see the roller coaster effect throughout the year when it comes to the jobs market.

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