Episode Summary: "Job Market Slowdown Could Last A While"

Podcast: Your Money Minute
Host: CNBC – Jessica Ettinger
Date: October 24, 2025
Duration: ~1 minute

Overview

This episode of "Your Money Minute" dives into current job market trends, highlighting a pronounced slowdown in U.S. hiring. Host Jessica Ettinger draws on fresh data from Challenger, Gray & Christmas and brings in industry expert Andy Challenger to explain why the slowdown could persist, advising listeners on practical steps to prepare.

Key Discussion Points & Insights

Record Low Planning for Hiring

• Planned hiring by U.S. businesses:
  • Has reached its lowest level since 2009.
  • Based on new data from outplacement firm Challenger, Gray & Christmas.
  • Announced job cuts have spiked, hitting a five-year high.

Ongoing Labor Market Cooling

• Sustained labor market shift:
  • Andy Challenger (Challenger, Gray & Christmas) observes that the U.S. job market has been experiencing a "gradual cooling" for over two years.
  • This slowdown is continuing rather than reversing.
  • Key quote:

    "We've been going through a gradual cooling of the labor market for more than two years. It's continuing on that path."
    — Andy Challenger (00:18)

Job Cuts: Frequency & Forecast

• Current & future layoff trends:
  • Elevated number of job cut announcements, highest since 2020.
  • The third quarter of 2025 saw peak numbers for announced layoffs.
  • Cuts are not isolated to the year's start; the trend is ongoing.
  • Andy Challenger notes:

    "We have seen an elevated number of job cut announcements this year, the highest since 2020. The Q3 numbers are the highest that we've seen since 2020. So it's not just the [job] cuts at the beginning of the year."
    — Andy Challenger (00:29)

  • The firm expects to stay busy handling more layoffs through year-end and anticipates possible acceleration.

    "We're expecting to stay quite busy through the end of the year and in fact are preparing for an acceleration."
    — Andy Challenger (00:46)

What It Means for Working Americans

• Rising anxiety and reduced opportunities:
  • Fewer job openings; companies are increasingly cutting staff.
  • Many employees witnessing co-worker layoffs for the first time in years.
  • Jessica Ettinger advises:

    "Get networking, build up your emergency fund and polish off that resume just in case."
    — Jessica Ettinger (01:09)

Notable Quotes & Memorable Moments

• Andy Challenger on market trajectory:

  "We've been going through a gradual cooling of the labor market for more than two years. It's continuing on that path." (00:18)

• On company adaptation:

  "We're expecting to stay quite busy through the end of the year and in fact are preparing for an acceleration." (00:46)

• Jessica Ettinger's advice to listeners:

  "Get networking, build up your emergency fund and polish off that resume just in case." (01:09)

Actionable Takeaways

• Stay prepared:

  • Network proactively: Reach out to industry contacts.
  • Review your finances: Fortify your emergency fund.
  • Update your resume: Be ready for potential job transitions.

• Learn more:

  • Additional resources on the evolving job market are available at cnbc.com.

This summary focuses solely on the episode's content, omitting ads and non-content sections for clarity and relevance.