Challenger Gray Reported U.S.-Based Employers Announced 36,836 Job Cuts in October, Up 9%
Portfolio Pulse from Charles Gross
U.S.-based employers announced 36,836 job cuts in October, a 9% increase, according to Challenger Gray.
November 02, 2023 | 11:34 am
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NEGATIVE IMPACT
The increase in job cuts could potentially impact the overall U.S. economy, which may indirectly affect the SPY ETF.
Job cuts can lead to decreased consumer spending, which can negatively impact the overall economy. As SPY is a broad market ETF, it could be indirectly affected by these economic changes.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50