Reported about 1 month ago
In August, U.S. employers announced a staggering 75,891 layoffs, marking the highest number in five months and tripling the July figures, according to Challenger, Gray and Christmas. The surge, primarily led by the technology sector, is attributed to growing economic uncertainty and rising operational costs, prompting companies to reassess their workforce strategies. This trend reflects a concerning shift in the job market, with rising unemployment figures leading Federal Reserve policymakers to consider interest rate cuts to support employment.
Source: YAHOO