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

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

U.S. layoffs fell to their lowest in two years (33,429 in July, -46% YoY), with AI driving 33% of job cuts across all industries. Entry-level corporate roles have dropped 15% while applicant volume surged 30%, signaling AI's structural reallocation of talent demand away from junior positions despite overall market resilience.