American employers announced less job cuts In September, but Plan to hire According to a Thursday report, since 2009 fell at its lowest level, underlined uncertainty in the labor market.
Companies announced 54,064 job cuts last month, 37 percent less than August and 26 percent less than a year ago, Outplement firm Challenger, Gray and Christmas saidThis was only the third time this year when the cut came down from the same month a year ago.
Nevertheless, employers have announced 946,426 job cuts so far this year – most since 2020, when more than 2 million cuts were announced.
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But HobbyThe situation looks tarnished. Employers have announced a plan to add about 205,000 jobs through the first nine months of the year – 58 percent from the same point in 2024 and the lowest tally since 2009.
What exposes the latest figures Analyst call A “No-Hire, No-Fire” Labor Market: Limited Opportunity but so far, relatively low trimmed.
Challenger’s report comes as official Government data is stopped Causes Federal shutdownThe Bureau of Labor Statistics’ (BLS) September Jobs report will probably not be determined on Friday.
The government report is considered a gold standard for labor market data, but economies and policy makers are left to fly in the dark, depending on alternative data sources to gauge the economy.
“Right now, we are working with a stable labor market, cost increase and a transformative new technology,” the Challenger said. “With the rate cut on the way, we can see some stabilization in the job market in the fourth quarter, but other factors can plan or plan employers to trim or hire.”
A Separate report The US shed 32,000 private-field jobs were shown from the parole-processing firm ADP in September this week. Even more, it estimated August Amended From a profit of 54,000 to a loss of 3,000.
The ADP chief economist Nela Richardson said, “The release of this month is more valid that we are seeing in the labor market, that American employers are cautious of hiring work.”
The ADP report can vary greatly from the government’s data, so economists often take it with salt grains.
Nevertheless, traders are more confident in weak private job data that Federal Reserve will continue to reduce interest rates, earlier this month pricing at 98 percent of the quarter-point reduction pricing, later, later, this month, According to CME Fedwatch Tool,
Fed Low rates in September This year for the first time to increase the labor market, even inflation remains above its 2 percent target.
The Consumer Price Index for September is scheduled for release on October 15, but it depends on When the shutdown endsThat too, can be delayed.
