The U.S. job market remains strong right now, with the official unemployment rate at 3.7%, but layoffs have spiked recently. A new report from employment consultancy Challenger, Gray & Christmas shows that so far in 2019, companies have announced layoffs of 36% more workers than by this time last year. The automotive and industrial goods sectors have shed the most jobs in the past few months. On Friday, the Labor Department will shed more light on how those layoffs affect the overall unemployment rate with its June jobs report.
Click the audio player above to hear the full story.
We’re here to help you navigate this changed world and economy.
Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.
In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.
Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.