Job losses in the Educational Services, Wholesale Trade, Real Estate, and Rental and Leasing sectors have seen a sharp decline over the month of July.
Conversely, job losses in the Mining and Utilities sectors have shown an upward trend, following a recovery from a significant surge that peaked in October 2022.
Additionally, job postings in Mining and Utilities have weakened over the past year.
Over the month of July, the uptick in the job losses across Educational Services, Wholesale Trade, Real Estate, and Rental and Leasing sectors have experienced a sharp decline. We will monitor these sectors in the upcoming months to see if this is a temporary relief, or a lasting one.
However, over the past three months, job losses in the Mining and Utilities sectors have been on a gradual rise, following a recovery from a significant surge that peaked in October 2022
Alongside rising layoff levels, job postings in the Mining and Utilities sectors have also seen a decline over the past year. Interestingly, we've observed a similar weakening trend across these two industries towards the end of the summer season, which could explain the patterns we're currently witnessing.
Layoffs in Headlines
Yellow Corporation is shutting down and laying off all its employees. WARN filings from July indicate 23,569 layoffs.
Stitch Fix has filed 11 WARN notices with the state of Pennsylvania, revealing plans to lay off 393 employees over the next two months.
Microsoft is laying off another 276 employees in Bellevue and Redmond, according to WARN filings with the state of WA.
Other Notable Layoff Events
Pfizer has filed a WARN notice with the state of Illinois, impacting 69 employees at its Lake Forest location.
PVH Corp. plans to lay off 136 employees across NY and NJ.
Campbell Soup Corporation will lay off 116 employees in CT and NC as it plans to close its offices in Norwalk, CT, and Charlotte, NC.
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