US Companies Announced Fewest Hires in 2024 in Nearly a Decade
- Job cuts were up 5.5% last year versus 2023, Challenger says
- Market and economic conditions were top reason cited for cuts
Commuters in New York.
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US companies pared back hiring plans in 2024 as employers announced the smallest additions to headcount in almost a decade, according to figures published Thursday.
Monthly data from Challenger, Gray & Christmas showed firms announced plans to hire 769,953 workers last year, the least since 2015. Job cuts also picked up, with employers planning to eliminate 761,358 positions — a 5.5% increase from 2023.