U.S. job cuts in July significantly decreased by 27% compared to June, reaching the lowest monthly total in two years. This marks a 46% reduction from the same period last year, with year-to-date layoffs down 41%. Technology remains the leading sector for job reductions, largely attributed to artificial intelligence advancements. Conversely, hiring plans have increased by 25% year-over-year, indicating a resilient labor market despite technological shifts.
https://www.challengergray.com/blog/challenger-report-layoffs-fall-hiring-picks-up-ai-leads-for-fifth-straight-month/