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#Layoffs accelerated in October, pushing 2025 job cuts to levels typically seen in a #recession, acc/to newly released data from Challenger, Gray & Christmas, a private firm that tracks workplace reductions.
#US employers have announced 1.1 million layoffs so far this year — the largest reading since the pandemic recession & on par with 2008 & 2009 job cuts during the Great Recession, the firm’s figures show.

#economy #Trump #tariffs #inflation #trumpcession
https://www.washingtonpost.com/business/2025/11/06/job-cuts-accelerate-october-layoffs-trump/

Nonilex

@Nonilex@masto.ai replied · last week

The data includes a recent spate of #layoffs at major companies such as UPS, Amazon & Target, & adds to growing concern about a labor market slowdown.
Employers cited #CostCutting & #ArtificialIntelligence as the top 2 reasons for job reductions in October.

#economy #Trump #tariffs #inflation #recession #trumpcession

Nonilex

@Nonilex@masto.ai replied · last week

“We’re entering new territory with these #layoffs in October,” said John Challenger, CEO of the consulting firm that tracks job losses. “We haven’t seen mega-layoffs of the size that are being discussed now — 48,000 from UPS, potentially 30,000 from Amazon — since 2020 & before that, since the #recession of 2009. When you see companies making cuts of this size, it does signal a real shift in direction.”

#economy #Trump #tariffs #inflation #labor #trumpcession

More than 1 million workers have been laid off so far this year Number of job cuts, January through October of each year

Nonilex

@Nonilex@masto.ai replied · last week

Recent #layoffs, the data shows, have been concentrated in technology, retail, service & warehousing jobs. Employers announced >153,000 job cuts last month, a 183% increase from the month before, marking the worst October for layoffs since 2003, the Challenger report said.

The government #shutdown, now in its 2nd month, has left policymakers, investors & economists [conveniently] without official #data at a critical moment.

#economy #Trump #tariffs #inflation #recession #trumpcession

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