Layoff announcements surged last month: The worst October in 22 years

🎯 Impact Sentiment: Concerning

📋 Summary

• Layoff announcements in the US soared to over 153,000 in October, up 175% from last year, reaching levels not seen since 2003.
• Companies like Amazon and Target are cutting jobs, with many citing AI adoption, slowing demand, and higher costs as top reasons.
• More than one million job cuts were announced in the first 10 months of the year, a 65% spike compared to last year, as the labor market adjusts after the pandemic boom.
• Ongoing government shutdown has frozen official job data, forcing policymakers and investors to rely on less reliable private reports during economic uncertainty.

💡 JR Insights

• 💼 Implication: Major industries are feeling the squeeze—from AI-driven automation to cost-cutting—making layoffs a real and immediate risk for many workers.
• 🚨 Risk: Job security is increasingly fragile in sectors susceptible to automation or cost pressures, and the lack of up-to-date government data means surprises could still be coming.
• ✨ Takeaway: If your role is in a vulnerable industry or heavily manual, this is the time to upskill, network, and be proactive—waiting for the next official jobs report won't buy you much peace of mind.