Summary

• The Educational Services, Wholesale Trade, Real Estate, and Rental and Leasing sectors are witnessing a continued downtrend in job losses, nearing the levels observed in 2021. 
• Similarly, there's been a sharp decline in job losses in the Information, Retail Trade, Finance, and Insurance sectors, especially after a significant spike in Q1 2023. 
• Alarmingly, three unspecified sectors have seen a 400% surge in layoff levels after a prolonged period of low activity over the past two years. 
• Geographically, over half of all states have reported an uptick in layoffs in the last three months.

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The job losses across the Educational Services, Wholesale Trade, Real Estate, and Rental and Leasing sectors have continued their downward trend and are approaching levels seen in 2021:

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The Information, Retail Trade, Finance, and Insurance sectors, after experiencing a 20X+ spike in Q1 2023, have shown a consistent decline in job losses. This trend is further solidified by stable job posting activities.

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However, job losses in three specific sectors have seen a 400% increase in layoff levels following a period of low activity over the past two years.

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On the geographical front, a majority of states have been grappling with increased layoffs over the past three months.

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Layoffs in Headlines

• Tyson Foods has filed WARN notices with the states of Indiana and MO, indicating a total of 2,564 layoffs.
• CVS Health plans to lay off 1,658 employees across Texas, NY, FL, and 5 other states.
• FedEx is laying off another 594 employees, according to WARN filings with the states of Texas, PA, and CO.

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Other Notable Layoff Events

• T-Mobile has notified the state of WA about its plans to lay off 401 employees.
• Nestle USA Inc. has filed a WARN notice with the state of NJ, revealing plans to lay off 210 employees in mid-November.
• AT&T has filed 3 WARN notices with the state of New Jersey, revealing plans to lay off 50 employees over the next two months.

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Steering Through the Economic Landscape

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