The new employees added by American companies in 2024 hit a near-decade low, with layoffs increasing by 5.5% compared to the previous year.

The data released on Thursday showed that American companies reduced their recruiting plans in 2024, with the scale of new employee plans reaching the lowest level in nearly a decade. Challenger, Gray & Christmas' monthly data showed that companies announced plans to hire 769,953 employees last year, the lowest level since 2015. Layoffs also increased, with employers planning to cut 761,358 positions, a 5.5% increase from 2023. The report on Thursday, based on recent data, showed a slowdown in labor demand as businesses remained cautious ahead of the White House turnover in January. Andrew Challenger, Senior Vice President of the executive training company behind the report, said, "The slowdown in hiring reflects the continued uncertainty in the economic situation and employers' cautious attitude towards expansion. While some industries are speeding up hiring, others are still hesitant due to market fluctuations and the impact of the new government." Last year, the technology industry had the highest number of layoffs, announcing layoffs of nearly 134,000 people. However, this number was still 20.3% lower than in 2023. The report stated that in the context of transitioning to electric vehicles and continued supply chain disruptions, the healthcare industry cut 51,600 jobs and the automotive industry cut around 48,200 jobs. "Market/economic conditions" were the most common reason for layoffs in 2024, impacting approximately 150,000 positions. This was followed by "cost-cutting," which affected over 148,000 people. Challenger stated, "Due to rapid technological advancements and changes in economic conditions, companies experienced unprecedented changes in 2024. Most employers expect that the new government will bring more uncertainty, leading to a slowdown in hiring and an increase in layoffs across various industries in the short term."