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August record number of job cuts

[Torontojay]

According to a reputable private source for jobs data, the US announced 75,891 job cuts in August compared to 25,885 in July. That's a notable difference in job cuts and could support the view that the unemployment rate will move higher. It is also the highest number of job cuts in the month of August (excluding August 2020) since 2009. 
Moreover, the hiring and quit rates are trending below pre-pandemic levels. In addition, firms are cutting back on the typical work week which is what we should expect just prior to layoffs.

[DZtrader]

Right wrong or otherwise, the markets will trade off the governments numbers. One would only assume the above referenced private source is Challenger, Gray & Christmas. Whom also reported,  (to add some prospective) that the large Aug. cuts were only 1 percent higher than Aug. of '23 and also said, "On the hiring front, companies said they were adding just 6,101 new workers, up

[Torontojay]

It is worth noting that the unemployment rate went from 3.5% to 3.8% from July to August last year. With Challenger, Gray and Christmas showing another strong m/m increase in job cuts, are we expecting another increase in the unemployment rate?  I will predict that non farm payroll will diverge again from the household survey.