U.S. layoffs in 2026 are down nearly 40% from last year, labor data shows

TL;DR

U.S. layoffs have fallen to a four-year low, with a nearly 40% decline in job cuts through September.
Employers' hiring plans are up 3% this year, but seasonal hiring is down compared to the previous year.
Initial jobless claims remain exceedingly low, suggesting companies are reluctant to let go of current workers.
The solid labor data may allow the Federal Reserve to raise interest rates to combat inflation.
Economists anticipate potential further rate hikes later in 2026, with a significant probability for a December increase.

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