Job cuts plunge to a 2-year low despite AI fears, economic shocks

TL;DR

U.S. layoffs in July reached their lowest level in two years, with 33,429 job cuts announced.
This represents a 46% decrease from the previous year and is the lowest figure since July 2024.
Artificial intelligence is the leading cause of layoffs for five consecutive months, making up 33% of job cuts in July.
AI-related layoffs are concentrated in the technology industry.
The number of Americans filing for weekly unemployment benefits is also at a low, indicating a resilient labor market.
Hiring remains modest, and job openings are below pre-pandemic levels.
Entry-level corporate job listings have fallen 15%, while applications per job have surged 30%.

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