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Stunning new data reveals 140% layoff spike in July, with almost half connected to AI and 'technological updates'
The summer of layoffs is real.
According to the data, employers across the U.S. announced 62,075 job cuts last month—a 29% increase from June but a stunning 140% surge over July 2024 and a decisive end to the typical midsummer lull in workforce reductions. The report says these cuts are “well above average for this month since the pandemic,” and one of the highest July pullbacks in the past decade, evidence that deep, technology-driven changes are rippling through the labor market. Beyond the more than 10,000 jobs in July that were eliminated specifically due to AI adoption, an additional 20,219 cuts were attributed to “technological updates” including automation and new software workflows.
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