Layoffs & Discharges Rate

Share of total employment involuntarily separated (laid off or discharged) each month from the JOLTS survey. Remained historically low through 2022–24 even as job openings fell — a key reason the labor market avoided a traditional unemployment spike. A rising layoff rate would be the clearest signal of deteriorating labor market health.

Source: Federal Reserve (FRED), accessed via ALFRED (Archival FRED). ALFRED archives each data point exactly as it was first published on release day — before any revision by the reporting agency. The figures shown here are what investors, traders, and policymakers were actually looking at when the data came out. Economic releases like payrolls, GDP, and inflation are often revised significantly in subsequent months; ALFRED lets you see the real-time picture.