Job cuts plunge to a 2-year low despite AI fears, economic shocks
CBS News
US layoffs fell to a two-year low in July, dropping 46% year-over-year and signaling continued resilience in the labor market despite economic shocks and AI-related disruptions. While AI remains the primary driver of job cuts within the tech sector, recent data indicates that laid-off workers are rejoining the workforce as quickly as new jobs are created, keeping the labor market balanced. However, hiring remains modest with job openings below pre-pandemic levels, and entry-level opportunities for recent graduates have significantly declined.
All articles from 7 August 2026. Summaries are AI-generated and may contain errors; the linked article is the authority.