US job cuts so far this year skyrocket 231% from same period in 2019: Report

US job cuts so far this year surged 231% compared to the same period of 2019 as the coronavirus wreaked havoc on the once-healthy economy, according to a new report today.

All told, employers have announced nearly two million cuts this year, and Covid-19 was cited as the reason for more than half. Airlines have been badly hit by a slump in passenger demand caused by the pandemic, and transport has cut 131,571 jobs this year, nearly 500% higher than 2019, the report said. And that was before United Airlines on Wednesday announced another 16,000 layoffs in October.

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