October Layoffs Hit 22-Year High Amid Weakening Labor Market, Gov't Shutdown
The US saw its most job cuts in an October in 22 years, as companies increase automation, the nation's labor market weakens, and the federal government shutdown lingers.
Employers announced 153,074 layoffs in October, Challenger, Gray & Christmas said in a report released on Thursday, Nov. 6. That's the highest total for an October since 2003, when 171,874 cuts were recorded.
The outplacement firm said October's job cuts jumped 183% from September and increased 175% from October 2024. Employers have announced 1,099,500 job cuts so far in 2025, up 65% from the fi…