U. S. Job Cuts Drop in November, but Hiring Still Sluggish

November Job Cuts Drop, But Hiring Lags

In November, U.S. companies announced fewer job cuts, but hiring remained slow. Businesses struggled with economic uncertainty, tariffs, and lower demand.

• Job Cuts Drop by 53% from October
• Still Higher Than Last Year

2023 Job Cuts Surge by 54%

So far this year, employers have announced about 1.171 million job cuts, a 54% increase compared to the same period last year.

• Planned Hires Total Only 497,151
• Lowest Since 2010

The "No Fire, No Hire" Situation

The labor market is in a strange place:

• Few New Unemployment Claims
• Few New Jobs

Experts blame this on:

• Fewer Workers Available
• Changes in Immigration Policies

AI's Impact on Jobs

Artificial intelligence is affecting jobs, especially entry-level positions.

• AI Blamed for 54,694 Planned Layoffs This Year
• 6,280 Job Cuts in November Alone

Market Conditions and Layoffs

Companies are cutting jobs due to:

• Market Conditions
• Tariffs
• Government Spending Cuts

Top Industries for Layoffs:

• Telecommunications
• Technology
• Meat Processing

Main Reason for Cuts:

• Restructuring