EL7.AI
Macro EconomyMedium•5 November 2026•
1 min read

US Job Cuts Fall to Three-Year October Low as Layoffs Slow

Key Facts

1US companies announced 43,994 job cuts in October, the lowest level for the month in three years.
2The October job cut figures represent a 71% decrease compared to the same period last year.

US companies announced 43,994 job cuts in October, marking the lowest level for that month in three years. Reuters reported that these figures represent a 71% decrease compared to the same period last year, indicating a clear slowdown in layoffs across US employers.

This data arrives alongside mixed signals from the broader labor market. JOLTs Job Openings reached 7.523 million on November 3, 2026, exceeding forecasts. Additionally, the ISM Manufacturing PMI was reported at 55.5 on November 2, 2026, while the ISM Manufacturing Employment sub-index stood at 52.4 on the same date.

The US labor market remains in focus with the upcoming Non Farm Payrolls report scheduled for November 6, 2026. Markets expect an addition of 65,000 jobs, with the unemployment rate forecasted to hold steady at 4.2%.