US Job Cuts Fall in September But Remain Elevated Over 2021 on Recession Fears

U.S. employers announced 47,457 job cuts in September, down 37% from August but up 58% from September 2021. Market uncertainty and business closures were top reasons.

Job cuts were highest since 2020 on a year-to-date basis, led by technology, retail, and finance sectors.

Employers cited concerns over possible recession and higher costs reducing profits as reasons for cuts.

590,353 job openings were announced in September, up from 380,014 in September 2021, mostly seasonal roles.

Layoffs per BLS data are tracking similarly to last year, but "Great Resignation" has made hiring difficult for employers.