Big Jump in October Layoff May force Fed Hands

Data from Challenger, Gray & Christmas revealed a massive gain in jobs cuts in October, coming in at 153,074 in the period. That’s was nearly triple September’s level, climbing 183% month over month, and 175% higher than the same period a year ago.  It was the highest level of layoffs for any October since 2003 in a year that has been the worst for announced layoffs since 2009, the Challenger survey said.