Impending layoff notices across much of the U.S. surged in October, highlighting signs of stress in the job market. Data from the Federal Reserve Bank of Cleveland shows that 39,006 Americans last month in 21 states received a Worker Adjustment and Retraining Notification Act, or WARN, notice informing them of an upcoming layoff. U.S. labor…
Verizon CEO Dan Schulman said in a Nov. 20 letter to employees that the wireless telecom is cutting 13,000 employees, or about 13% of its workforce, as it seeks to “evolve as a company” by slashing costs and restructuring operations. The company employed 99,600 workers at the end of 2024, according to its most recent annual…
Employers across the U.S. added 119,000 jobs in September, marking a pickup after previous employment data had shown a slowdown in hiring. The report marks the first official job tally since the government shutdown ended last week, ending a six-week blackout on labor data. The numbers Economists had forecast payroll gains of 50,000 jobs in September,…
Layoffs across the U.S. soared last month to more than 153,000, marking the worst October for job reductions in 22 years, according to outplacement firm Challenger, Gray & Christmas. Employers have announced early 1.1 million job cuts this year, the most through October since 2020, when pandemic shutdowns sent unemployment soaring. The labor market has shifted…
Stocks rose on Wall Street Wednesday as more U.S. companies turn in their latest quarterly reports and several economic updates shed some light on the U.S. economy. The S&P 500 rose 0.5%. The Dow Jones Industrial Average rose 62 points, or 0.1%, as of 11:35 a.m. Eastern time. The Nasdaq composite rose 0.8%. The gains…
As U.S. corporate profits rise and the stock market hits new highs, investors are reaping the rewards. Yet beneath the surge, companies have cut nearly 1 million jobs this year — the most since 2020, when the pandemic slammed the economy. The disconnect between soaring company earnings and mounting layoffs amounts to what Chen Zhao,…
China’s services activity expanded in October even though growth was the weakest in three months, a private survey showed, as holiday spending and travel by households supported the industry during a deepening economic slowdown. The RatingDog China services purchasing managers’ index slipped to 52.6 from 52.9 in September, according to a statement published Wednesday, extending…
China’s factory activity slump worsened in October, reaching its longest decline in more than nine years as a deepening economic slowdown sets in during the final quarter. The official manufacturing purchasing managers’ index was 49, versus 49.8 in September, the National Bureau of Statistics said Friday. The median estimate of economists surveyed by Bloomberg was…
For most of 2025, the job market was described by economists as “no hire, no fire” — a stretch of time when job seekers faced slim prospects, but workers could count on job security. But that fragile balance may now be shifting, labor experts warn, as mass layoffs at companies like Amazon and UPS signal…
Six in 10 U.S. workers say their jobs fall short of the standards for a “quality” position — one that offers basics such as fair pay, a steady schedule and career growth — according to new research from advocacy group Jobs for the Future. While government labor statistics track how many Americans are employed and…