“U.S. employers have announced 1.1 million layoffs so far this year — the largest reading since the pandemic recession and on par with 2008 and 2009 job cuts during the Great Recession,” The Washington Post reported on Thursday, pointing to a report from Challenger, Gray & Christmas, which tracks workplace reductions.
Major corporations have cut or are reportedly planning to cut thousands of positions this year:
“The worst October in 22 years”
Amid the job cuts, the “AI bubble,” President Donald Trump’s massive deportations and tariffs, record-high household debt, climbing automobile payment and consumer loan delinquencies, some believe a recession may be in America’s future.
Late last month Moody’s Analytics Chief Economist Mark Zandi said 22 U.S. states are already in a recession, Moneywise reported.