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Global outplacement firm Challenger, Grey & Christmas reported that employers cut 49,000 jobs in March, down 11 percent from February. Despite the month to month decline, job cuts for the first quarter were their highest since 2011. Retailers led the way with over 16,000 cuts.

CEO John Challenger joins Marketplace's Mark Garrison to explain which sectors had the biggest cuts and where there is potential for job growth.

Follow Mark Garrison at @GarrisonMark