US LAYOFFS DROP TO LOWEST SEPTEMBER SINCE 2022

U.S. employers announced 43,281 job cuts in September, the lowest total for that month since 2022, according to Challenger, Gray & Christmas. Cuts for the first nine months of 2026 total 573,195, a 39% drop from the same period in 2025. The slowdown feeds the soft-landing narrative traders are pricing into $SPY ahead of the next Fed decision. Companies are holding off on layoffs even as hiring plans stay muted.