Major US companies are at it again, initiating more rounds of layoffs even after reducing headcounts in the first quarter of 2024. Indeed Hiring Lab Economist Cory Stahle joins Yahoo Finance to break down the impact of job cuts from early 2024, the state of the US labor market as Americans continue to apply for jobs through employment sites, and what workers can do to revamp their resumes and skillsets.
"What we’re seeing is that the overall layoff rate has still remained pretty low. Now, with that being said, obviously if you’re on the receiving end of the layoff… it’s going to hit very, very different," Stahle says. "But right now, the overall labor market is still stable, is still strong. We’ve got initial claims data today on unemployment claims that showed that things were pretty stable. They were flat and unchanged from last week… so there are still some signs that the labor market is stable [and] steady, despite what we have seen in recent layoffs."
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