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As White-Collar Layoffs Rise, Blue-Collar Resilience Faces Test in 2023
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Layoffs at white-collar companies are starting to rise. Now the question hanging over the economy in 2023 is whether that trend spreads to blue-collar industries as interest rates bite.
Average layoffs in finance and insurance from September to November nearly doubled from a year earlier, according to Labor Department data released this past week. Job cuts picked up by more than 20% among real-estate lessors, brokers and agents over the same period, and by about 14% in the tech-heavy information sector.
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