Us Layoffs for October Surge to Two-Decade High
Postedabout 2 months agoActiveabout 2 months ago
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LayoffsJob MarketUs Economy
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Us Economy
US layoffs surged to a two-decade high in October, sparking concerns that the trend can't be explained solely by a post-COVID correction, with commenters questioning the underlying causes and potential impact on the job market.
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The main correction is the staggering reduction in job vacancies. There's no world where I can be convinced that the surging number of redundancies can be explained away as a post-COVID course correction.
If this was just the market correcting itself, we would have the same level of unemployment today as what we had pre-COVID.