Layoffs Surge While Hiring Slows, Sparking Pessimism and Uncertainty in the Labor Market
• Layoffs.fyi data shows over 24,000 workers from 93 companies lost jobs in 2024 so far • Glassdoor data indicates employee confidence has fallen to lowest level since 2016 • Can labor market bounce back from recent layoffs and pessimism? • Hiring rate significantly down in latest JOLTS data, at lowest pre-pandemic rate since 2014 • People hunkering down, less hiring and quitting - careers in a holding pattern