The U.S. experienced a surge in layoffs and discharges in 2024, totaling 20,188, which is an 18.5% increase compared to 2021. This increase is prevalent in regions like the West and Midwest, driven largely by high turnover in sectors such as recreation, construction, and Big Tech. While some states show a correlation between high layoffs and robust hiring, leading to low unemployment, others exhibit concerning patterns where high layoffs coincide with rising unemployment rates, indicating a weakened labor market.
In 2024, the U.S. saw 20,188 layoffs and discharges, marking an 18.5% increase since 2021.
Layoff activity is concentrated in the West and Midwest, particularly in sectors like recreation and construction.
In states such as Montana, Alaska, and Vermont, high layoff rates can coincide with increased hiring and low unemployment.
Conversely, states like New Jersey and Kentucky exhibit high layoffs alongside high unemployment, indicating labor market issues.
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