US Layoff Announcements Hit Lowest September Since 2022

US employers announced 43,281 job cuts in September, down 20% from a year earlier and the lowest September total since 2022. Third-quarter planned layoffs fell 36% year-over-year to 129,591, the lowest quarterly level since Q4 2023.

Year-to-date announcements reached 573,195, a 39% decline from the prior year and the lowest comparable total since 2022. It was also the seventh month with layoffs below the corresponding month of the previous year.

Tech led by volume, with 10,799 announcements last month and 165,925 so far this year. Market and economic conditions accounted for 8,789 September cuts, or 20% of the monthly total, and 114,124 year-to-date — the second-most cited reason after AI.

Employers are taking a wait-and-see approach to layoffs.