The job market didn’t change much in September, with unemployment holding steady at 4.34%. Layoffs stayed about the same, but hiring slowed down a bit, showing that companies are pulling back. A report from outplacement firm Challenger, Gray & Christmas said layoff announcements actually dropped last month, but overall job cuts this year are already higher than all of last year. At the same time, hiring plans have fallen hard, down more than half from last year and at their lowest level since the 2009 financial crisis. With the government shutdown delaying official reports, people are turning to other sources to figure out what’s really happening in the job market.
Cox, J. (2025, October 2). Report shows hiring at lowest since 2009 as economists turn to alternative data during shutdown blackout. CNBC https://www.cnbc.com/2025/10/02/report-shows-hiring-at-lowest-since-2009-as-economists-turn-to-alternative-data-during-shutdown-blackout.html
1 comment:
This hiring slowdown really highlights how fragile the current job market is, even though unemployment hasn't spiked yet. Interestingly, layoffs aren't surging, but companies are clearly becoming more cautious about expanding. If hiring stays this low, we could start to see wage growth flatten and consumer spending slow down heading into the winter months.
Post a Comment