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U.S. layoffs hit 22‑year high as AI and cost‑cuts drive job losses
U.
On 6 November 2025, private reports showed U.S. employers announced 153,074 planned layoffs in October—the highest for that month in 22 years. The surge was attributed to AI adoption, budget cuts and subdued consumer spending. The unemployment rate, estimated by the Chicago Fed, rose to 4.36%. The official employment report remains delayed due to the ongoing government shutdown, raising concerns about broader labour‑market stress. Analysts warn that if corporate hiring remains muted, consumer discretionary sectors may come under added pressure.