Layoffs Rebound, But a New Normal Takes Shape The July jobs numbers bring welcome relief to the labor market, with layoffs plummeting to their lowest level in two years.
According to Challenger, Gray & Christmas, US employers announced 33,429 job cuts last month, down from June's total of around 46,000.
This decline marks a significant shift from the dark days of 2020, when mass layoffs became a regular occurrence. The hiring landscape is also improving, with July seeing employers announce more than 16,000 new hires.