Your Money Minute Job Market Slowdown Could Last A While 10/24/25
Oct 24, 2025
Andy Challenger, an expert at Challenger, Gray & Christmas, shares insights on the current job market slowdown. He discusses how the labor market has been cooling for over two years and highlights that job cut announcements are at their highest since 2020. Challenger warns of continued layoffs into next year and emphasizes the importance of networking and maintaining emergency savings for Americans facing fewer job choices. His analysis paints a clear picture of the work landscape, preparing listeners for what lies ahead.
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Hiring Plans Hit A Long-Term Low
- U.S. planned hiring fell to its lowest level since 2009 according to Challenger, Gray & Christmas.
- Announced job cuts reached a five-year high, signaling a broad labor-market cooling.
Labor Cooling Is A Multi-Year Trend
- Andy Challenger says the labor market has been gradually cooling for more than two years.
- He expects layoffs to continue and possibly accelerate through year-end and into next year.
Layoffs Broaden Beyond Early-Year Cuts
- Q3 job-cut numbers are the highest since 2020, not limited to early-year tech cuts.
- Challenger's firm is talking to companies and preparing for sustained demand for outplacement services.