Part 6/12:
The Worsening Reality: Numbers and Personal Stories
The numbers paint a grim picture: with over 1 million job cuts announced by October, there's a year-over-year increase of 65%, with total layoffs already surpassing last year's figures by 44%. Nearly 450 individual layoffs were announced in just October, surpassing totals from previous months and marking the worst October in over two decades.
Industries most affected include government agencies, technology, warehousing, retail, and services, with government agencies leading at nearly 37,000 layoffs. Energy and mining sectors, despite some positive signs like falling fuel costs, are impacted indirectly as the trickle-down effect begins to bite into consumer spending and corporate revenues, prompting further layoffs.