Posted on 11/06/2025 6:36:05 AM PST by thegagline
Layoff announcements soared in October as companies recalibrated staffing levels during the artificial intelligence boom, a sign of potential trouble ahead for the labor market, according to outplacement firm Challenger, Gray & Christmas.
Job cuts for the month totaled 153,074, a 183% surge from September and 175% higher than the same month a year ago. It was the highest level for any October since 2003. This has been the worst year for announced layoffs since 2009.
***
To be sure, the Challenger monthly numbers can be highly volatile, and an accelerated pace of layoffs has yet to show up in state-level weekly jobless claim filings that continue to come in despite the shutdown. Payrolls processing firm ADP reported that October saw net job growth of 42,000, reversing two consecutive months of losses in the private sector.
*** The central bank has lowered its benchmark interest rate twice since September and is expected to approve another quarter percentage point reduction in December as policymakers look to get ahead of any more serious problems. Challenger reports the highest level of layoffs coming from the technology sector amid a time of restructuring due to AI integration. Companies in the sector announced 33,281 cuts, nearly six times the level in September.
Consumer products also saw a sharp gain to 3,409, while nonprofits, an area hit hard by the shutdown, listed 27,651 cuts year to date, up 419% from the same point in 2024. *** In total, companies have announced 1.1 million cuts this year, a 65% increase from a year ago and the highest level since the Covid pandemic year of 2020. October saw the highest total for any month in the fourth quarter since 2008.
(Excerpt) Read more at cnbc.com ...
It’s OK...Mamdani will fix it all when he is President.
CNBC = Communist National Broadcasting Commissars.
Enough said
How can this be as the Trump economy is doing so well! NOT!
this doesn’t fully excuse the population’s embrace of socialist/leftist candidates, but when we see headlines like this...we have to assume this will put pressure on the GOP for the midterms
When the SCOTUS overturns Trump’s tariffs that is going to get interesting...from an historical stand point as SCOTUS will defang Trump’s main weapon.
We have to show up mext year
Looks like the chickens are coming home to roost. This has been a long time coming and the uniparty owns it all. I’m not sure the long fall can be avoided at this point.
Anyway, the usual bedwetters are saying it’s all Trump’s fault as usual.
And the stock market hits all time highs within the last week…
The troll speaks!
Remember too, this is the month all those federal make-work employees got their deferred layoff from their useless federal jobs.
Sounds like we need to increase deportations and slow down immigrations (especially from h1b visa types)
Remember how Biden gaslit everyone with all the happy talk about Bidenomics? How is that different from Trump trying to convince everyone that we are in the midst of some Great Golden Age, when it's just apparent to most people that it's not the case?
Nothing alienates people who are going through tough times more than somebody patting them on the head and telling them how good they have it.
Who needs humans when the work can be done with AI and robots? I thought I read that Amazon laid off 40k people due to their jobs can be done with AI.
What’s that supposed to mean???
Yes. High debt levels include $1.7 trillion credit card debt, and student loans in default are over 10%.
Deliberately increasing prices, particularly food prices, is not a recipe for electoral success. It may have contributed to yesterday’s bad results.
But there’s these imbeciles who like paying higher prices for bananas or whatever. Because it’s stopping Guatemala from taking advantage of us, apparently.
It means CNBC is wildly biased reporting TDS and anti-conservative
Learn your history.
Benjamin Harrison issued retaliatory tarrifs which caused thee most severe depression in history, aside the 30s, which resulted in the then president was blamed for. His party failed to obtain majority till 1910.
The 1930s saw the tarrif wars which resulted in the deepening of the depression and they did it to protect American interests.
Richard Nixon attempted to limit imports during his administration which did not go well.
Ronald Reagan, the greatest president in the last 120 years, called retalitory tarrifs protectionism. He was/is right.
I am with Ronald Reagan 100%
What this is crony corporatism.
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