Brief

U.S. layoffs hit four‑year low as employers announce fewer cuts

Labor data shows layoffs fell 40% from last year and hiring plans increased slightly.

By Felo News Desk · Published Fri, 02 Oct 2026 02:08:29 GMT

U.S. employers announced 573,195 job cuts through September 2026, a decline of nearly 40% from the same period in 2025, according to Challenger, Gray & Christmas, CBS News reported on October 1.

Monthly layoffs dropped 20% in September to 43,281, the lowest level in four years. At the same time, employers disclosed plans to hire 210,612 workers in the first nine months of 2026, up 3% from a year earlier.

PNC Economics noted the labor market is "somewhere between stable and reaccelerating" and flagged early signs of wage growth that could pressure the Federal Reserve. Oxford Economics highlighted that initial jobless claims fell by 1,000 to 197,000 for the week of Sept. 26, underscoring continued low unemployment.

The Job Openings and Labor Turnover Survey showed worker separations unchanged from the previous month while hiring rose 3.3%. The solid jobs data gives the Fed room to consider another rate hike, though CME FedWatch predicts a 60% chance of a quarter‑point increase at the December meeting.

Key facts

Employers announced 573,195 layoffs through September 2026, a 40% decline from 2025. (cbsnews.com)
September layoffs fell to 43,281, the lowest in four years. (cbsnews.com)
Hiring plans rose 3% to 210,612 workers in the first nine months of 2026. (cbsnews.com)
Initial jobless claims dropped to 197,000 for the week of Sept. 26. (cbsnews.com)
CME FedWatch shows a 60% probability of a rate hike at the December 2026 Fed meeting. (cbsnews.com)