{"id":274024,"date":"2025-10-03T07:55:12","date_gmt":"2025-10-03T07:55:12","guid":{"rendered":"https:\/\/www.europesays.com\/us\/274024\/"},"modified":"2025-10-03T07:55:12","modified_gmt":"2025-10-03T07:55:12","slug":"whats-with-all-the-layoffs","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/274024\/","title":{"rendered":"What’s with all the layoffs?"},"content":{"rendered":"

In case you missed it<\/a>, we\u2019re in the midst of a low hiring, low firing job market<\/a>. Meaning, while employers aren\u2019t adding a whole lot of jobs right now, they\u2019re not cutting many employees either.<\/p>\n

Yes, it\u2019s true that most firms are holding on to their workers, but according to the outplacement firm Challenger, Gray & Christmas, employers have announced more layoffs so far this year than any year since 2020<\/a>.<\/p>\n

A huge chunk of the layoffs announced so far this year happened months ago, when Elon Musk was swinging a prop chainsaw around a conference stage<\/a> and firing federal workers en masse<\/a>.<\/p>\n

\u201cThat has really spiked the number, and, in a real way, added to the pool of Americans that are looking for work,\u201d said Andy Challenger, senior vice president at Challenger, Gray & Christmas.<\/p>\n

And not just government workers. Non profits and other government contractors have been hit hard too<\/a>, said Terry Clower, a professor of public policy at George Mason University.<\/p>\n

\u201cIf it’s a large accounting firm or a consultancy operation, it’s probably most directly because of a government contract,\u201d he said.<\/p>\n

In his region, just outside D.C., Clower said those cuts have also spilled over into restaurants, which are seeing less traffic.<\/p>\n

And cuts to leisure and hospitality jobs are happening elsewhere too, said Lisa Simon, chief economist at the workforce analytics firm Revelio Labs.<\/p>\n

\u201cThe declines in leisure and hospitalities are sort of, like, bigger than usual,\u201d she said.<\/p>\n

Layoffs are also coming for higher-earning tech jobs. In part because companies are seeing whether they can replace workers with artificial intelligence<\/a>, said independent economist Aaron Terrazas.<\/p>\n

\u201cAnytime a role becomes open, they’re asking themselves, do we really need this role? Is it a role that can be done with AI? And, you know, at the very least, they’re going to test that,\u201d he said.<\/p>\n

Terrazas said now, other sectors are starting to do the same thing \u2014 partially because investors want them to.<\/p>\n

\u201cFinancial markets expect similar AI impacts in these other sectors like finance, like retail, like warehousing,\u201d he said.<\/p>\n

While layoffs so far this year are up, the pace of new layoff announcements in recent months has slowed down, according to Challenger\u2019s data.<\/p>\n

Still, said Sarah House, a senior economist at Wells Fargo, \u201cwhile I think we’re not seeing the pace of softening necessarily accelerate, we’re still in a precarious place.\u201d<\/p>\n

Just how precarious? Well, we were supposed to find out more from the jobs report Friday, but that\u2019ll have to wait until the government reopens<\/a>.<\/p>\n

Related Topics<\/p>\n","protected":false},"excerpt":{"rendered":"In case you missed it, we\u2019re in the midst of a low hiring, low firing job market. Meaning,…\n","protected":false},"author":3,"featured_media":274025,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[64,263,7414,141870,420,4506,67,132,68],"class_list":{"0":"post-274024","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-jobs","8":"tag-business","9":"tag-employment","10":"tag-hiring","11":"tag-job-churn","12":"tag-jobs","13":"tag-labor-market","14":"tag-united-states","15":"tag-unitedstates","16":"tag-us"},"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/274024","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=274024"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/274024\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/274025"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=274024"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=274024"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=274024"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}