(AURN News) — The U.S. job market is showing fresh signs of strain as new data reveals hiring has fallen to its lowest level in 15 years. The latest report from Challenger, Gray & Christmas shows U.S. employers announced 71,321 job cuts in November — a 24% increase from the same month last year, though down from the 153,074 layoffs reported in October.
“Through November, employers have announced 1,170,821 job cuts, an increase of 54% from the 761,358 announced in the first 11 months of last year,” the report said.
Job cuts have now climbed to their highest level since the height of the pandemic. In 2020, companies reported 2,227,725 layoffs through November.
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