Despite a strong jobs market report earlier this week, October saw the largest amount of monthly job cuts since February 2021.
Many American companies are expecting an economic downturn heading into the fourth quarter, leading to fears that more cuts are likely to come.
The U.S. labor market has remained strong this year, despite scattered of layoffs, with certain sectors taking a beating, as the Federal Reserve raised its benchmark rate again on Nov. 2
The Fed raised interest rates by 75 basis points in its fight against inflation, but it suggested that it may be nearing an inflection point, after the quickest annual rate tightening in 40 years….