U.S. employers announced plans in March to cut 43,310 jobs, a 17 percent increase from February, outplacement consultancy Challenger, Gray & Christmas reported Thursday.

Despite the monthly the rise, the number was 2 percent lower than the total in March 2016. So far this year, employers have announced 126,201 job cuts, 30 percent lower during the first three months of 2016.

"The heaviest cuts were in Texas and Ohio in the month ... 17,000 each in those two places," Challenger CEO John A. Challenger said on "Squawk Box."

Retail had the most job losses in the first quarter, with 38,464 announced cuts, including 4,084 in March. Despite the cuts, the sector has announced over 121,000 new jobs this year, the report said.