Latest data released by Challenger, Gray, and Christmas Inc

US-based employers announced an additional 118,804 job cuts in September, up 2.6% from August with bars, restaurants, hotels and amusement parks i.e. entertainment and leisure sectors, the bulk that drove layoffs last month.

That brings the total job cuts for the year to 2.08 million, a record on an annual basis - though this was already achieved following the August report.

Some commentary from the latest report above:

"We are setting new records for job cuts even though things have improved since the earliest days of the pandemic. Especially if another relief package fails to pass, employers are going to enter the fourth quarter hesitant to invest or spend."