An interesting statistic, a complement to the payrolls data out Friday (US time). From TradingEconomics.
US-based employers announced 102.943K job cuts in January of 2023, the most since September of 2020, and compared to 43.651K in December. It is also the highest January total since 2009, when 241.749K were announced, as companies are preparing for an economic slowdown, cutting workers and slowing hiring. The technology sector announced the most cuts with 41.829K, 41% of all cuts, and the second highest on record. Retailers announced the second-most cuts with 13K; real estate 2.191K as housing demand and prices fall. Meanwhile, employers announced plans to hire 32.764K workers, primarily in entertainment/leisure. This is down 58% from a year earlier and 37% from December 2022.
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