US Layoff Announcements in September Lowest Since 2022

The headline number looks reassuring, but the composition is less so: layoffs are falling while planned hiring sits at its weakest September since 2011. That combination points to a labor market running on low turnover rather than genuine expansion — fewer cuts, but also fewer doors opening. The open question is whether weak hiring plans are a lagging artifact of caution or the start of a more durable freeze, and how that feeds through to consumer demand and risk appetite.