SHe's going to run on the economy? LOL We can only hope
All the problems with the economy, Trump created. Or were created on Trump's watch. Biden/Kamala fixing everything you broke. No recession. Inflation coming down. The sky did not fall like you predicted.
“Companies are concerned about a potential economic slowdown, leading them to make tough decisions about workforce management.” Pussies. Things are fine.
The report comes with concerns rising that the labor market is weakening even though the U.S. economy has seen growth of 1.4 million in nonfarm payrolls this year. Payrolls processing firm
ADP reported Wednesday that private companies added 99,000 workers in August, the smallest gain since January 2021.
Markets expect a softening jobs picture to prod the Federal Reserve into lowering interest rates later this month even with inflation running higher than the central bank’s 2% target.
To be sure, the Challenger layoffs data is somewhat out of sync with government reports, which show that initial claims for unemployment benefits have been slightly elevated in recent weeks but not reflective of a major escalation. For the week ended Aug. 31, jobless claims totaled 227,000, a slight decrease from the previous period.
Thursday’s report showed the biggest growth in planned layoffs came in the technology field, with companies announcing 41,829 cuts, the most in 20 months.
“The labor market overall is softening,” Challenger said.
Companies announcing job cuts most often cited cost-cutting and economic conditions as the reasons, though artificial intelligence also was listed for the first time since April.