US layoffs fall to lowest July level in 2 years
Business
Layoffs in the US dropped to their lowest point in two years this July, even with the war in Iran and more jobs being affected by AI.
Companies announced 33,429 job cuts, a sharp drop of 27% from June and nearly half of what we saw last July.
So, the job market is showing some real stability right now.
AI layoffs amid hiring surge
AI was behind 10,970 layoffs last month and has contributed to 112,713 job cuts this year alone. Tech jobs took a big hit too.
But there's good news: companies also announced plans to hire 16,095 people in July, a big jump from both June and last year, with industries like aerospace, defense, tech, and automotive leading the way.
Health care saw some layoffs too, but overall hiring is up by 25% compared to last year.