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Job cuts in U.S. factories reached levels not seen since the 2009 financial crisis and the Covid-19 pandemic, according to S&P Global. While the manufacturing index showed better-than-expected performance due to inventory rebuilding, concerns about demand and rising costs persist. Despite these job cuts, overall employment in the manufacturing sector has increased this year.
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Job cuts in U.S. factories reached levels not seen since the 2009 financial crisis and the Covid-19 pandemic, according to S&P Global. While the manufacturing index showed better-than-expected performance due to inventory rebuilding, concerns about demand and rising costs persist. Despite these job cuts, overall employment in the manufacturing sector has increased this year.
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Factory job cuts in June near financial crisis and Covid levels...
U.S. Factory Job Cuts Reach High Levels Amid Economic Concerns