Data from human resources agency Challenger, Gray and Christmas, Inc. show that U.S. employers announced layoffs of 55,597 people in October this year, down from 72,821 in September, but 50.9% more than the 36,836 in October 2023.
THE AEROSPACE/DEFENSE SECTOR HAD THE HIGHEST NUMBER OF REDUNDANCIES AT 18,465, MAINLY BECAUSE BOEING (BA.US) ANNOUNCED 17,000, FOLLOWED BY RETAILERS (7,696) AND CONSUMER GOODS MANUFACTURERS (4,571).
Companies have announced 664,839 layoffs so far this year, up 3.7% from the same period in 2023, the highest level since 2020, excluding 2020, the highest since 2009.
Andrew Challenger, Senior Vice President of Challenger, Gray & Christmas, said that vacancies have been reduced and recruitment is relatively flat at the moment. Companies seem to be on the lookout as they await the election results and the potential regulatory and market environment that comes with it.