"Decrease in U.S. Private Sector Employment: Number of Layoffs is Increasing"

Employment in the Private Sector Decreases in the U.S.

According to recent data published by ADP Research, U.S. companies laid off an average of 2,500 employees in the four-week period ending on November 1. This indicates that the labor market has lost momentum towards the end of October.

Employment Report and Expectations

ADP’s monthly employment report, released on November 5, revealed that private sector employment increased by 42,000 people after two months of decline. In the employment report for September, which will be published by the U.S. Bureau of Labor Statistics on Thursday, an increase of 55,000 is expected.

Layoffs at Major Companies

The weekly ADP figures came following announcements of layoffs by major companies such as Amazon.com and Target. According to a report by hiring firm Challenger, Gray & Christmas Inc., planned layoffs have reached their highest level in over twenty years.

Concerns About Job Security

On the other hand, Americans are increasingly worried about job security. A Harris Poll conducted for Bloomberg News from October 23-25 shows that 55% of working Americans are concerned about losing their jobs.