September’s hiring data shows a market easing faster than expected. Only 117,313 new jobs were announced — that’s down 71% YoY, and the weakest September since 2011. The September jobs number can also play a big role in holiday hiring and employer expectations for holiday sales.
For the year, we’re at 205,000 total job announcements, the lowest since 2009.
Meanwhile, job cuts are rising: 946,426 YTD, the most since 2020. The government sector leads the pack with 289K+ reductions, thanks largely to cost-saving measures from the new Department of Government Efficiency (DOGE).
Bottom line: hiring is slowing, cuts are mounting, and the market feels… stuck. Between cost pressures and transformative tech, employers are playing defense.
#EyeOnVolatility #EyeOnRisk
