Jan. 17--Bankrupt Circuit City Stores Inc. said yesterday that it is going out of business and will shut down its 567 stores in the United States, including 15 in Maryland, after a plan to sell the company failed.

The country's second-largest consumer electronics chain employs more than 30,000 people who will now be out of work. A bankruptcy judge approved the company's liquidation plan yesterday, and sales could begin as soon as today.

The company's demise was just one of many layoff announcements yesterday from companies in various industries and highlighted how the weak economy is affecting different sectors. Almost 40,000 job cuts were outlined yesterday between Circuit City, Hertz rental cars, WellPoint health insurance and others.

Economists said it's a sign that the deterioration of the economy is far from over and a rebound is unlikely soon. National unemployment reached 7.2 percent last month, but labor experts predict those figures will climb as the year goes on.

"The month-to-month pace of this thing is frankly frightening as you see it," said Charles W. McMillion, president and chief economist at MBG Information Services in Washington. "Even expecting that it was coming, you always hope as it unfolds that it won't be as bad as you expect, and it is every bit as bad. Even despite the massive subsidies and federal efforts going on."

Most of the cuts yesterday were a result of weak consumer spending and previous job losses.

Rental car company Hertz Global Holdings Inc. said it would cut its work force by 4,000 jobs worldwide as it deals with curbed demand for travel and weaker vehicle values. It laid off 1,400 workers in the fall.

Insurer WellPoint Inc. said it will cut about 1,500 jobs, or 3.5 percent of its staff, with rising unemployment leading to fewer people with health insurance. And The Wall Street Journal reported that drug company Pfizer Inc. plans to lay off 2,400 of its 8,000 sales force, after announcing earlier this week that it would trim 800 scientists from its research and development division.

Chip maker Advanced Micro Devices Inc. said it will trim 1,100 jobs, or 9 percent of its workers, as computer sales continue to decline. And ConocoPhillips said falling crude oil prices are forcing it to cut its work force by 4 percent and cut capital spending by 18 percent. Oil prices hit above $147 a barrel in July but are now about $40 a barrel.

Falling costs for items like gasoline were reflected in a new government report released yesterday showing that consumer prices tumbled again in December.