The U.S. labor market weakened considerably in October, with companies slashing 153,000 jobs, nearly triple last year's total and the highest for that month since 2003, according to a new report from outplacement firm Challenger, Gray & Christmas.Technology and warehousing jobs led the layoffs, mostly because companies are slashing folks who were hired during the pandemic-era overhiring period. Also, slowing consumer demand and rising costs are other contributing factors. Year-to-date job cuts have surpassed 1 million, the highest since 2020, while announced hiring plans are at their lowest level since 2011. ZeroHedge
