Companies in the U.S. announced the fewest job cuts last month since July 2006, bolstering confidence that business will start increasing payrolls soon, according to Bloomberg. Challenger, Gray & Christmas released February data for planned job cuts on Wednesday, with employers announcing 42,090 firings. The figure is sharply lower than the 71,482 cuts the month prior, and is 77 percentlower than the 186,350 cuts from one year ago.

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