Yesterday, ADP reported that the U.S. economy shed tens of thousands of jobs last month.  Today, Challenger, Gray & Christmas is reporting that U.S. employers announced a grand total of 1.17 million job cuts through the first 11 months of 2025.  That represents a 54 percent increase from the first 11 months of last year…

U.S.-based employers have cut more than 1.17 million jobs so far in 2025, the highest level since the first year of the COVID-19 pandemic, according to a new report from outplacement firm Challenger, Gray and Christmas.

From January to November of this year, employers cut 1,170,821 jobs, a 54 percent increase from the 761,358 jobs cut during the first 11 months of 2024.

In 2020, large numbers of Americans were being temporarily laid off due to the lockdowns.

But we don't have any lockdowns in 2025.