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Key Insights:
- January consistently ranks as the month with the highest number of firings and layoffs.
- Over the past five years, January has seen an average of 2.1 million firings and layoffs.
- This month accounts for more than 10% of all firings and layoffs annually.
- February experiences the fewest firings and layoffs, coinciding with its shorter duration.
- August, known for having the third-highest firings and layoffs, also records the highest number of voluntary quits each year.
Source: Bureau of Labor Statistics JOLT Survey. Not seasonally adjusted.
Understanding the trends in firings and layoffs can help job seekers and employers navigate the labor market more effectively. January’s high rates may be attributed to seasonal adjustments as companies reassess their staffing needs at the start of the year. This insight is crucial for professionals considering job transitions, as timing can significantly impact their career trajectory.
Author
Chris Kolmar is a co-founder of Zippia and the editor-in-chief of the Zippia career advice blog. He has hired over 50 people in his career, been hired five times, and wants to help you land your next job. His research has been featured on the New York Times, Thrillist, VOX, The Atlantic, and a host of local news. More recently, he's been quoted on USA Today, BusinessInsider, and CNBC.
