US layoffs fall in Dec 2024, hiring plans at lowest since 2015

Layoffs in the US slipped in December 2024, with the technology and energy sectors taking the lead amid economic pressures, while hiring plans were at the lowest level since 2015.

According to the layoff report issued Thursday by Challenger, Gray & Christmas, employers reported cancelling 38,792 jobs in December, down 33% Month-on-Month from 57,727 jobs in November.

In Q4 2024, US companies’ plans to lay off workers fell by 13% to 152,116 employees, bringing the total over the past year to about 761,358 layoffs, up 5.5% from the 2023 level.

The technology sector reported the largest number of job cuts in December, recording 11,430 cases, and 133,98 jobs in 2024.

Meanwhile, the energy and utilities sector also announced plans to lay off 8,998 employees last month, up 524% year-over-year, while about 11,825 job cuts were announced in 2024.

Employers announced plans to add 7,999 jobs in December, at a total of 769,953 jobs in 2024 as a whole, the lowest pace of hiring plans since 2015, when it reached 690,751 jobs.