Live Updates > Live Update Details
2026-11-05 18:48:27
[US October Layoffs Drop to Lowest Level Since 2023] ⑴ US companies announced the lowest number of layoffs in October since 2023, while hiring plans increased as companies began preparing for the holiday shopping season. ⑵ Data from job placement firm Challenger, Gray & Christmas Inc. shows that US companies announced 43,994 layoffs last month, a decrease of approximately 71% compared to the same period last year. ⑶ Last year, the number of layoffs announced by US companies in October was the highest in more than 20 years. ⑷ Challenger data shows that US employers also indicated plans to hire nearly 445,000 people last month, an increase of approximately 57% year-on-year, marking the highest level for October since at least 2009. ⑸ The increase in hiring plans is entirely driven by staffing needs for the holiday shopping season. ⑹ Amazon plans to hire 300,000 people, accounting for nearly two-thirds of its total seasonal hiring plan; UPS also announced plans to hire 100,000 people. ⑺ The layoff and hiring plan data reflect the current characteristics of the US labor market: fewer layoffs, but relatively limited job opportunities. (8) The market expects the US government's October jobs report, to be released on Friday, to show an increase of 65,000 non-farm payroll jobs and that the unemployment rate remains at 4.2%. (9) Overall, the US labor market is characterized by a combination of low layoffs and seasonal hiring recovery, with job growth remaining moderate.
