It seems like the data is released about an hour earlier than intended as seen here. US-based employers announced 54,064 job cuts in September, which is a 26% mark down from the same month last year. So far this year though, the year-to-date total for layoffs amount to 946,426 job cuts and that is the highest year-to-date total since 2020. Compared to last year’s tally up until September, that figure is 55% higher and already 24% higher than the total number of job cuts for the entirety of 2024 which was 761,358.
It is clear that labour market conditions are weakening and Challenger notes that this year’s layoffs have largely been led by the government sector, which announced 299,755 planned job cuts – of which the majority is part of the DOGE impact.
