I believe layoffs are not the primary driver of unemployment. In a strong economy layoffs still happen, but it’s easy to get a job after being laid off.
A more concerning statistic is hiring rates. If people are being laid off and not able to find jobs elsewhere it’s more of a concern.
AnonGradInstructor on
Layoffs are one of those things that are selectively over-reported on for certain high-profile companies or industries, but the FRED series for layoffs is usually fairly stable, even in times of excessive reporting on layoffs. Note that layoffs only really spiked during Covid, yet we can certainly find several instances of reporting on “mass layoffs”. The next data release is November 4th, when we will get the September data on layoffs.
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I believe layoffs are not the primary driver of unemployment. In a strong economy layoffs still happen, but it’s easy to get a job after being laid off.
A more concerning statistic is hiring rates. If people are being laid off and not able to find jobs elsewhere it’s more of a concern.
Layoffs are one of those things that are selectively over-reported on for certain high-profile companies or industries, but the FRED series for layoffs is usually fairly stable, even in times of excessive reporting on layoffs. Note that layoffs only really spiked during Covid, yet we can certainly find several instances of reporting on “mass layoffs”. The next data release is November 4th, when we will get the September data on layoffs.
[https://fred.stlouisfed.org/series/JTSLDL](https://fred.stlouisfed.org/series/JTSLDL)