US Employers Scale Back Hiring, Job Cut Announcements in September

Watch US Employers Scale Back Hiring, Job Cut Announcements in September - Bloomberg on Dailymotion

Transcript

00:00Mike, as you know, we've got a low-confidence consumer, but we've got a high-confidence investor.

00:04And we're seeing companies, or at least investors in companies, get excited about the prospect of

00:08growth in 2026. Now, you'd expect that to correspond with hiring intentions, Mike.

00:13And I just wonder whether the economic data is contradicting that message.

00:17Well, the data we're getting so far suggests that it is in the sense that companies just

00:21aren't hiring. Challenger, Gray and Christmas, with their job cuts announcements, also announces

00:27hiring plans. And they're reporting in September that companies announced plans to add 117,313 jobs.

00:36That's down 71% from a year ago. It also suggests that they are going to hire fewer people for the

00:43holidays. It's the lowest since 2011. From January through September, hiring plans are the lowest

00:53since 2009. So right now, companies are not hiring, not firing as many people. Firings were down 25%. But

01:00the number of people who are going to get hired, very low still.