Private and non-governmental organizations review U.S. employment situation, most issue pessimistic forecasts

BlockBeats News, November 7 — Despite the U.S. government shutdown causing multiple employment data releases to be unavailable, U.S. private institutions and enterprises have provided their own estimates of the U.S. job market situation based on their own statistics:

Private Institutions:

Job site Indeed: The number of job postings at the end of October has fallen to its lowest level since 2021.

Revelio Labs: It is estimated that the U.S. lost 9,100 jobs in October, mainly due to layoffs in government departments.

The number of Challenger job cuts in the U.S. in October reached 153,074, a year-on-year increase of 175%, marking the largest increase in seven months; year-to-date layoffs are up 65% year-on-year.

Financial Institutions:

UBS Group: Data from ADP and Challenger in the private sector indicate that the labor market remains weak.

TS Lombard: Based on recently released data, there are no signs of further deterioration in the job market.

Bank of America: The U.S. job market continues to slow, but compared to the already turbulent September, there has been no substantial change. The market is cooling, but has not collapsed.

Ernst & Young: Whether due to underlying weak hiring demand or the emergence of new technologies such as AI, businesses and business leaders believe that the demand for talent has decreased. This will be the reality in the future. (Golden Ten Data)