This post was originally published on Truthout.org under a Creative Commons 4.0 license.
A new report examining worker layoffs in the United States this year finds that the numbers through October closely resemble those seen during recessions in the past.
The report from Challenger, Gray & Christmas, a private firm that tracks workplace hirings and firings across the country, found that there were 153,074 layoffs reported last month alone, a 183 percent increase from September. October 2025 also saw the highest number of layoffs for that month in particular over the past 22 years.
Around 1.1 million layoffs have been reported in the U.S. from January to the end of October, the report stated. Major companies that posted high layoff numbers included UPS, Amazon, and Target, while tech jobs also saw big hits, with firings at a rate 17 percent higher than in 2024, the result of a slowdown in demand and new technologies.
“Some industries are correcting after the hiring boom of the pandemic, but this comes as AI [artificial intelligence] adoption, softening consumer and corporate spending, and rising costs drive belt-tightening and hiring freezes,” said Andy Challenger, chief revenue officer at Challenger, Gray & Christmas. “Those laid off now are finding it harder to quickly secure new roles, which could further loosen the labor market.”
The 1.1 million layoffs number is 65 percent higher than what was reported through this same period last year. This year’s numbers are also the highest since the start of the Great Recession, excluding the 2020 layoffs during the global pandemic.
The report comes as President Donald Trump consistently pushes the false narrative that the economy is in the best shape it’s ever been, contradicting what Americans are seeing and feeling.
“Our Economy is BOOMING,” Trump wrote in a recent Truth Social post.
There are other signs that a nationwide recession may be imminent, including the fact that nearly half of U.S. states — accounting for a third of the country’s gross domestic product — are currently in a recession or close to entering one, according to a recent report from Moody’s Analytics.
A new Economist/YouGov poll shows that most Americans are worried about the current state of the economy, and pessimistic about its future.
Only 4 percent of Americans rate the economy at this moment as “excellent,” with 21 percent calling it “good.” Thirty-four percent call the economy “fair,” while nearly two in five Americans (39 percent) rate it as “poor.” On whether the economy is getting better or worse, 54 percent say it is getting worse, while only 21 percent say things are improving.
