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U.S. employers announced fewer layoffs in September but hiring plans so far this year were the lowest since 2009, a report said on Thursday, adding to evidence of a labor market standstill as the demand and supply of workers fall because of policy and technology advances. The report from global outplacement firm Challenger, Gray & Christmas does not normally attract much attention. But together with other private data, it has become more prominent due to a U.S. government shutdown that has led to major economic releases being suspended, including the closely watched employment report for September that was due on Friday. The 15th government shutdown since 1981, which will lead to the furlough of 750,000 federal workers, has also delayed the publishing of the weekly jobless claims report, August factory orders and construction data. The trade report is also likely to be affected. Challenger, Gray & Christmas said planned job cuts dropped 37% month-on-month to 54,064 in September. Employers have so far this year announced 946,426 job cuts, the highest year-to-date since 2020. Hiring plans so far this year have totaled 204,939, the lowest year-to-date since 2009 when the economy was just emerging from the Great Recession. LABOR MARKET IS STAGNATING "Right now, we're dealing with a stagnating labor market, cost increases and a transformative new technology," said Andrew Challenger, senior vice president at Challenger, Gray & Christmas. "With rate cuts on the way, we may see some stabilizing in the fourth quarter, but other factors could keep employers planning layoffs or holding off hiring." The Federal Reserve resumed easing policy last month, cutting its benchmark overnight interest rate by 25 basis points to the 4.00%-4.25% range, to aid the labor market. Economists say lingering uncertainty from President Donald Trump's trade policy, immigration raids and the rise of artificial intelligence, have combined to reduce demand and labor supply. Nonfarm payroll gains averaged only 29,000 jobs per month in the three months to August compared to 82,000 during the same period last year. Challenger said the government accounted for the bulk of planned layoffs, with 299,755 job cuts announced so far this year, part of an unprecedented campaign by the White House to reduce the federal workforce. Trump threatened to fire more federal workers if there was a shutdown. The surge in AI is costing jobs in the technology sector, with companies in the industry announcing 107,878 layoffs so far this year. Challenger said AI was also making it difficult to land positions, particularly for entry-level engineers. Should the shutdown persist into next week, September's consumer price, retail sales, housing starts and producer inflation reports will probably not be published, impacting decision making by households, investors and policymakers.

Housing sales in Mumbai region and Pune dropped 17 per cent in July-September period to 49,542 units on lower demand amid a sharp surge in prices of residential properties, according to PropEquity. Sales stood at 59,816 units in the year-ago period. In its latest report, real estate data analytics firm PropEquity pointed out that sales in the primary housing market of Thane in Mumbai Metropolitan Region (MMR) saw a 28 per cent decline in sales to 14,877 units from 20,620 units. In Mumbai city, sales dipped 8 per cent to 9,691 units from 10,480 units, while Navi Mumbai witnessed a 6 per cent fall to 7,212 units from 7,650 units. In Pune, a key housing market in Maharashtra, the housing sales fell 16 per cent to 17,762 units during July-September 2025 from 21,066 units in the corresponding period of the preceding year. Commenting on the market scenario of MMR, realtors apex body CREDAI's Mumbai chapter said that fall in sales during the September quarter was not a cause for concern and the demand would bounce back in the festive season, which started from September 22.* Sukhraj Nahar, President of CREDAI-MCHI said, "While Q3 reflected a period of market recalibration, the demand drivers for housing in MMR and Pune remain extremely robust. Infrastructure upgrades like Metro corridors, coastal roads, and NMIA continue to act as strong long-term catalysts." With sales still outpacing new launches in many sub-markets, this phase represents a healthy adjustment rather than a cause for concern, he added. "Historically, festival quarters in Maharashtra have always revived momentum, and we expect a similar trend this year," Nahar said. Rushi Mehta, Secretary of CREDAI-MCHI noted that the end-user demand is intact. "Short-term fluctuations are largely due to high base effect and cautious launches. Developers are aligning supply with genuine demand, which will ensure long-term market stability," he explained. Nikunj Sanghavi, Treasurer of CREDAI-MCHI, noted that MMR and Pune together still account for nearly half of India's housing market, underlining their dominance. Investor confidence remains strong, supported by stable interest rates and regulatory clarity under RERA, he said. "We believe the second half of FY25 will see an uptick in absorption, aided by festive demand and policy push towards affordable and mid-segment housing," Sanghavi said. According to PropEquity, the housing sales in India's top 9 cities fell 4 per cent YoY (year-on-year) and 1 per cent QoQ (quarter on quarter) to 1,00,370 units in the July-September period. The top 9 cities are Bengaluru, Hyderabad, Chennai, Mumbai, Navi Mumbai, Thane, Pune, Kolkata and Delhi-NCR.