A significant Increase in Weekly Jobless Claims, up by 13,000 to 231,000, Reaching the Highest Level Since August.

13,000 

The latest Labor Department statistics reveal a notable uptick in initial weekly unemployment filings, rising by 13,000 to 231,000—the highest since August. This surge follows a period of consistently low claims, with numbers hovering around 220,000 for eight consecutive weeks. The four-week moving average increased to 220,250, prompting scrutiny of workforce stability and economic conditions.  

180 

Amazon Games division is eliminating over 180 positions and discontinuing its streaming and third-party game support initiatives. The decision, outlined in a memo by Christoph Hartmann, the vice president of Amazon Games. Amazon has undergone its most extensive downsizing to date, with a total of 27,000 jobs eliminated since the previous autumn. 

40%  

For this holiday season, businesses are hiring fewer seasonal workers, signaling potential challenges in the labor market. Seasonal job postings have reached a decade-low, with estimates suggesting a 40% decrease in seasonal hires compared to 2021. Companies like XPO, Macy's, and the U.S. Postal Service are among those scaling back on seasonal staff. 

20% 

A Forrester report suggests that investments in Employee Experience (EX) will face a substantial decline in 2024, extending a trend observed in 2023. The report anticipates an "upcoming EX recession," particularly impacting diversity, equity, and inclusion (DEI) programs. Forrester predicts a further decrease in the share of companies funding DEI functions with a strategic approach—from 33% in 2022 to 20% by the end of 2024.  

6,000 

With recent layoffs in the tech industry, over 6,000 U.S. H-1B visa holders sought refuge in Canada last month. The competitive H-1B program, targeting highly skilled foreign workers, left many in limbo, prompting a migration surge to Canada as layoffs in the U.S. tech sector created uncertainty for visa holders.