US job‑cut plans plunge 53% in November, but pain lingers

Employers in the United States dramatically scaled back their layoff plans in November, according to the latest data from Challenger, Gray & Christmas. The firm reported that planned job cuts dropped 53% compared with October — coming in at 71,321 announced cuts — although that total remains 24% higher than November 2024 and marks the busiest November for layoffs since 2022. Still, the overall picture remains grim for the US labour market. Through November, companies have announced about 1.171 million job cuts — a 54% jump from the same period a year ago. Meanwhile, planned hires have slumped to just 497,151, the lowest since 2010 and down 35% from last year. Analysts say the shift reflects a “no fire, no hire” stalemate: firms are pulling back on layoffs, but they’re also not hiring. The slowdown in hiring has been attributed to sluggish demand, uncertainty from tariff policies, reduced immigration that’s squeezed labor supply, and the rising influence of automation and AI — especially for entry-level jobs. The sectors hardest hit in November included telecommunications (led by Verizon), technology firms, and meat‑processing companies — largely as part of restructuring. Only 6,280 of the layoffs were directly attributed to AI this month, though AI‑related cuts have totaled 54,694 so far in 2025. #USjobs #Layoffs2025 #LaborMarket #Economy #SlimScan #GrowthStocks #CANSLIM