Announced layoffs at US companies fell last month after surging in October, but were still the highest for any November in three years, according to data from outplacement firm Challenger, Gray & Christmas. https://t.co/GujthlcnZL ...

Economic Overview - Concerns about a slowing US economy have led to significant declines in Wall Street, with the S&P 500 down 1% and the Nasdaq Composite falling 1.5% [1] - The worst October for US layoffs since 2003 was reported, with 153,074 job cuts announced, a stark increase from 55,597 in October 2024 [2][5] - A total of 1.09 million job cuts were announced in the first ten months of this year, representing a 44% increase from 761,358 cuts in 2024 [5] Federal Reserve Insights - The Federal Reserve is currently operating with limited data due to the government shutdown, complicating its ability to assess the economy and set interest rates [3] - Fed board member Austan Goolsbee expressed caution regarding further interest rate cuts, emphasizing the need for careful decision-making in the absence of clear data [4] Market Reactions - The FTSE 100 and European stocks also experienced declines, with the Stoxx Europe 600 down 0.7% and the Dax in Germany falling 1.3% [6] - Technology companies were particularly affected, leading to the heaviest losses in the European market [6]

Hiring Trends - US employers reduced hiring plans in September [1] - Fewer job cuts were announced by US employers in September [1] Data Source - Data is from outplacement firm Challenger, Gray & Christmas [1]