{"id":49526,"date":"2025-10-02T16:29:27","date_gmt":"2025-10-02T16:29:27","guid":{"rendered":"https:\/\/site.itshrt.com\/worldnews\/layoffs-across-the-u-s-this-year-are-at-their-highest-level-since-2020-new-data-shows\/"},"modified":"2025-10-02T16:29:27","modified_gmt":"2025-10-02T16:29:27","slug":"layoffs-across-the-u-s-this-year-are-at-their-highest-level-since-2020-new-data-shows","status":"publish","type":"post","link":"https:\/\/site.itshrt.com\/worldnews\/layoffs-across-the-u-s-this-year-are-at-their-highest-level-since-2020-new-data-shows\/","title":{"rendered":"Layoffs across the U.S. this year are at their highest level since 2020, new data shows"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<\/p>\n<div id=\"\">\n<p>Employers across the U.S. cut nearly 950,000 jobs this year through September, the largest number of layoffs since 2020,\u00a0<a href=\"https:\/\/www.challengergray.com\/blog\/category\/job-cuts-report\/\" target=\"_blank\" rel=\"nofollow noopener\">according<\/a> to outplacement firm Challenger, Gray &amp; Christmas.<\/p>\n<p>Job cuts could surpass more than 1 million in 2025, the group forecast. The layoffs this year, although elevated, remain well below the massive workforce reductions in 2020, when the pandemic shuttered businesses across the nation, leading to 2 million layoffs through September of that year, Challenger noted.<\/p>\n<p>The rise in layoffs comes as the <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/jobs-report-august-2025-economy-trump-hiring-bls\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">labor market has stalled<\/a><\/span> in recent months, with employers also sharply scaling back their hiring plans, according to labor data. Companies now expect to bring on 58% fewer workers for the rest of the year compared with their projections a year ago, the firm found.<\/p>\n<p>&#8220;Previous periods with this many job cuts occurred either during recessions or, as was the case in 2005 and 2006, during the first wave of automations that cost jobs in manufacturing and technology,&#8221; said Andy Challenger, senior vice president and labor expert for Challenger, Gray &amp; Christmas, in a statement.\u00a0<\/p>\n<p>The government shutdown could lead to more job cuts, with the White House Office of Management and Budget last week\u00a0<span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/white-house-trump-layoffs-omb-government-shutdown\/\" data-invalid-url-rewritten-http=\"\">telling federal agencies<\/a><\/span>\u00a0to consider layoffs during a closure.\u00a0<\/p>\n<div>\n<div style=\"min-height:471px\" id=\"datawrapper-vis-XlGvQ\"><img decoding=\"async\" src=\"https:\/\/datawrapper.dwcdn.net\/XlGvQ\/full.png\" alt=\"Bar chart showing the monthly change in U.S. nonfarm payroll employment from 2022 to 2025.\"\/><\/div>\n<p> <amp-iframe width=\"100\" height=\"100\" layout=\"responsive\" sandbox=\"allow-scripts allow-same-origin\" resizable=\"\" src=\"https:\/\/datawrapper.dwcdn.net\/XlGvQ\/19\/\"> <\/amp-iframe><\/div>\n<p>The report comes as the monthly government jobs report, scheduled to be released on Oct. 3, is likely to be delayed due to this week&#8217;s\u00a0<span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/live-updates\/government-shutdown-latest-shutdown-begins-trump\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">government shutdown<\/a><\/span>. Economists are forecasting that employers added 50,000 jobs last month, according to financial data firm FactSet.<\/p>\n<p>In the absence of the government&#8217;s monthly jobs report, other measures of the labor market&#8217;s health are drawing more attention from economists. On Wednesday, ADP said that payrolls at private employers <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/adp-report-private-payrolls-32000-decline-september-bls-jobs-report\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">declined by 32,000 jobs<\/a><\/span> in September.\u00a0<\/p>\n<p>However, some signs suggest that the pace of layoffs is easing, with Challenger&#8217;s data showing that businesses announced roughly 54,000 job cuts in September, a 37% drop from the nearly 86,000 cuts announced in August.<\/p>\n<p>The Federal Reserve is monitoring the labor market for signs of weakness, with Fed Chair Jerome Powell last month citing the headwinds facing workers as the primary reason the central bank lowered its benchmark interest rate by\u00a0<span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/federal-reserve-fomc-meeting-today-rate-cut-september-2025-powell-impact\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">0.25 percentage points<\/a><\/span>. The Fed is penciling in two additional rate cuts for the remainder of 2025.\u00a0<\/p>\n<p>A decline in borrowing costs for businesses and consumers could help bolster the job market, Challenger said. As interest rates fall, businesses have more flexibility to expand and hire more workers.\u00a0<\/p>\n<p>&#8220;Right now, we&#8217;re dealing with a stagnating labor market, cost increases and a transformative new technology. With rate cuts on the way, we may see some stabilizing in the job market in the fourth quarter, but other factors could keep employers planning layoffs or holding off hiring,&#8221; Challenger said.<\/p>\n<p>    <!-- data-recirc-source=\"queryly\" --><\/p>\n<aside class=\"component list recirculation component--type-recirculation \">\n<p><h3 class=\"component__title\">More from CBS News<\/h3>\n<\/p>\n<\/aside>\n<p>    <!-- tags --><\/p>\n<div class=\"content-author\">\n      <a href=\"https:\/\/www.cbsnews.com\/team\/aimee-picchi\/\" class=\"content-author__name\" data-invalid-url-rewritten-http=\"\">Aimee  Picchi<\/a><\/p>\n<div class=\"content-author__bio\">\n<div class=\"content-author__full-information\">\n<p class=\"content-author__text\">Aimee Picchi is the associate managing editor for CBS MoneyWatch, where she covers business and personal finance. She previously worked at Bloomberg News and has written for national news outlets including USA Today and Consumer Reports.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.cbsnews.com\/news\/layoffs-2025-highest-level-since-2020-labor-market-jobs-report\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Employers across the U.S. cut nearly 950,000 jobs this year through September, the largest number of layoffs since 2020,\u00a0according to<\/p>\n","protected":false},"author":1,"featured_media":49527,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[730,1898],"class_list":["post-49526","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-money-watch","tag-economy","tag-employment"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Layoffs across the U.S. this year are at their highest level since 2020, new data shows - World News<\/title>\n<meta name=\"description\" content=\"Employers have announced nearly 950,000 job cuts through September, the great number of layoffs through September since 2020, an analysis finds.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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