Forbes is tracking the biggest layoffs as companies react to fears of a looming recession.
as inflation soars. The latest report from the Bureau of Labor Statistics revealed a 9.1% spike in inflation from June, 2021, with gas, housing and food making up the largest increases.Even with the layoffs, the unemployment rate remains low, holding on at 3.6% for the past four months. In an interview with the
Thursday, U.S. Deputy Secretary of Labor Julie Su said she was optimistic the economy will rebound, citing 9 million jobs created since President Joe Biden took office, and 372,000 new jobs in June.244,000. That’s how many people applied for unemployment benefits last week, an eight-month high and a 3.4% increase from 235,000 the previous week, according to a Department of Labor
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Robinhood to lay off 23% of its workforce, with CEO admitting 'this is on me'Robinhood Markets Inc. plans to cut its staff by 23%, citing the weakening economic environment and depressed trading activity.
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Euro zone factory activity contracted in July as recession fears growManufacturing activity across the euro zone contracted last month with factories forced to stockpile unsold goods due to weak demand, a survey showed on Monday, adding to concerns the bloc could fall into a recession.
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