Firms announced 75,891 layoffs last month, roughly triple the number in July and the largest month-to-month increase in a year, outplacement firm Challenger, Gray and Christmas said. Still, announced staff reductions are down 3.7% year to date. "August's surge in job cuts refle...
Compared to layoffs, the steady drop in job openings is a painless way to cool a labor market that has been red hot, easing upward pressure on wages that can lead to higher prices. Hiring likely remained healthy last month. Economists expect the March jobs report, out Friday...
The four-week average of weekly claims, which softens some of the week-to-week volatility, rose by nearly 6,000 to 224,250. Weekly applications for jobless benefits are considered a proxy for US layoffs. RelatedUS inflation ticked up last month as some price pressures remain persi...
000, evidence that layoffs remain elevated seven months into the pandemic recession. yet economists say they are increasingly dubious about the unemployment claims figures, even though there is little doubt that hiring has slowed and employers have continued to lay off workers. one reason la...
Weekly unemployment claims — a proxy for layoffs — remain at low levels by historical standards, a sign that most Americans enjoy unusual job security. Still, after mostly staying below 220,000 this year, weekly claims have moved up recently. “Layoffs are still low overall suggesting businesse...
modest level, with hiring moderate but layoffs uncommonly low. The unemployment rate is at a low 4.1%, even though job gains slowed sharply in October, according to themonthly jobs report. The slowdown in job growth last month reflected mainly the impact of hur...
The economy created over 220,000 new jobs each month on average in 2018, up from about 180,000 in the prior year. The reasons driving layoffs vary. Banking giant Wells Fargo announced in September it was cutting five to 10 percent of its workforce as it focused more on internet banking....
Home building has been more heavily impacted by high interest rates than other categories of investment. In October, both housing starts and building permits fell for the second month in a row, as elevated rates continue to weigh on affordability for buyers and on the ability of builders to bo...
But layoffs fell. Monthly job openings are down sharply from a peak of 12.2 million in March 2022 but remain at a high level. Before 2021, they’d never exceeded 8 million — a threshold they have now reached for 37 straight months. The high level of job openings reflects...
after a vacation to celebrate her 40th birthday, when murmurs of layoffs began getting louder. A recruiter at Sonder, an apartment rental startup, Ng already had a sense that the job market around America was getting more precarious by the day as the economic catastrophe brought o...