Layoffs in the U.S skyrocketed in October to their worst monthly level for 22 years, with Americans now facing the type of job cuts typically seen during recessions.
Despite President Donald Trump repeatedly touting that the US economy “has never been hotter,” a new report has fueled concerns about a labor market slowdown with more people out of work.
The data, according to outplacement firm Challenger, Gray & Christmas, shows that company layoffs soared last month to more than 153,000, marking the worst October for job reductions since 2003.
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