By Chris Walker
This text was initially printed by Truthout
“These laid off now are discovering it tougher to shortly safe new roles,” one of many report’s authors mentioned.
A brand new report inspecting employee layoffs in the US this yr finds that the numbers by October intently resemble these seen throughout recessions prior to now.
The report from Challenger, Grey & Christmas, a personal agency that tracks office hirings and firings throughout the nation, discovered that there have been 153,074 layoffs reported final month alone, a 183 p.c enhance from September. October 2025 additionally noticed the best variety of layoffs for that month particularly over the previous 22 years.
Round 1.1 million layoffs have been reported within the U.S. from January to the tip of October, the report said. Main corporations that posted excessive layoff numbers included UPS, Amazon, and Goal, whereas tech jobs additionally noticed huge hits, with firings at a price 17 p.c increased than in 2024, the results of a slowdown in demand and new applied sciences.
“Some industries are correcting after the hiring increase of the pandemic, however this comes as AI [artificial intelligence] adoption, softening shopper and company spending, and rising prices drive belt-tightening and hiring freezes,” mentioned Andy Challenger, chief income officer at Challenger, Grey & Christmas. “These laid off now are discovering it tougher to shortly safe new roles, which may additional loosen the labor market.”
The 1.1 million layoffs quantity is 65 p.c increased than what was reported by this identical interval final yr. This yr’s numbers are additionally the best because the begin of the Nice Recession, excluding the 2020 layoffs through the world pandemic.
The report comes as President Donald Trump constantly pushes the false narrative that the economic system is in the very best form it’s ever been, contradicting what Individuals are seeing and feeling.
“Our Economic system is BOOMING,” Trump wrote in a latest Reality Social submit.
There are different indicators {that a} nationwide recession could also be imminent, together with the truth that practically half of U.S. states — accounting for a 3rd of the nation’s gross home product — are at the moment in a recession or near getting into one, in keeping with a latest report from Moody’s Analytics.
A brand new Economist/YouGov ballot exhibits that the majority Individuals are frightened in regards to the present state of the economic system, and pessimistic about its future.
Solely 4 p.c of Individuals price the economic system at this second as “glorious,” with 21 p.c calling it “good.” Thirty-four p.c name the economic system “truthful,” whereas practically two in 5 Individuals (39 p.c) price it as “poor.” On whether or not the economic system is getting higher or worse, 54 p.c say it’s getting worse, whereas solely 21 p.c say issues are bettering.
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