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October Sees Record-Lowest Job Cuts in 22 Years

1 min read
Source: CNN
October Sees Record-Lowest Job Cuts in 22 Years
Photo: CNN
TL;DR

Layoff announcements in the US surged in October, marking the worst October in 22 years, driven by AI disruptions, softening consumer and corporate spending, and rising costs, with over a million layoffs in the first 10 months of the year. The ongoing government shutdown has delayed key economic data, complicating policymaking and economic assessment.

Topics:businesseconomy#ai#economic-uncertainty#economy#layoffs#october#us-labor-market
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  1. Layoff announcements surged last month: The worst October in 22 years  CNN
  2. October Challenger Report: 153,074 Job Cuts on Cost-Cutting & AI  Challenger, Gray & Christmas, Inc.
  3. Last month was the worst October for layoffs since 2003, outplacement firm reports  KATU
  4. Hundreds of thousands of tech workers are in trouble, new report shows  SFGATE
  5. Job cuts in October hit highest level for the month in 22 years, Challenger says  CNBC

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