In Q1 2024, the Construction Sector had the Highest Layoff Risk

From January to March 2024, there were 4.9 million layoffs across all industries, which is lower than per-quarter average of 5.8 million from 2001– 2023.

Most of the 2024 layoffs — 1.2 million — were in the professional and business services sector, or concerned jobs in business operations like accounting, legal, architectural, engineering, and consulting services.

People with construction jobs faced the highest layoff risk, with a median of 2.3% of the workforce laid off monthly.

When are layoffs most likely to occur?

Since 2001, most layoffs happen in January and December and appear least likely to happen in February and March.