Job cuts surge in October: strikes, layoffs, small business closures up sharply; DISASTROUS jobs report – Only 12K jobs added; last two months revised down by 112K.

Job cuts accelerate in October with strikes, mass furloughs, layoffs, & small business closures at elevated levels.

Over 109,000 cuts per our preliminary figure. Final figure available on Sunday, as always. #MacroEdge #DrivenbyData pic.twitter.com/9cPnR1qDr9

— MacroEdge (@MacroEdgeRes) October 31, 2024

*US BLS: OCT. TRANSPORT EQUIP. JOBS FALL 44K, REFLECTING STRIKE

*US BLS:HURRICANES LIKELY AFFECTED OCT. PAYROLLS IN SOME SECTORS

— Joe Weisenthal (@TheStalwart) November 1, 2024

CHIP GIANT INTEL TO LAYOFF ANOTHER
16,500 EMPLOYEES AFTER LAYING OFF 19,000 EMPLOYEES JUST A FEW WEEKS AGO TO SAVE MONEY$INTC pic.twitter.com/sUdsQGGajV

— GURGAVIN (@gurgavin) October 31, 2024

Job growth evaporated in Oct, partially due to hurricanes and strikes, but good chance labor recovery is done; private payrolls fell 28k; note household survey’s employment level also fell hard (-368k), even though it counts many of those affected by hurricanes as still employed:

Job growth evaporated in Oct, partially due to hurricanes and strikes, but good chance labor recovery is done; private payrolls fell 28k; note household survey's employment level also fell hard (-368k), even though it counts many of those affected by hurricanes as still employed: pic.twitter.com/rxEpuzR1OP

— E.J. Antoni, Ph.D. (@RealEJAntoni) November 1, 2024