US Layoffs Surge to Highest in 2 Years

Over seventy thousand layoffs announced in the US last month, marking the highest total since 2022, according to Challenger, Gray and Christmas. This surge follows a tough October, with over 153,000 layoff announcements, challenging the notion of a stable job market. Despite a slight decrease in November, layoff plans still exceeded 70,000, a trend seen only twice since 2008. Separate data from ADP reveals a loss of 32,000 private-sector jobs, primarily in small and medium-sized businesses. Year-to-date, over 1.17 million layoffs have been announced, a 54% increase from the first eleven months of last year, making it the worst year for planned job cuts since 2020. The government will release official job data for October and November in December.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.