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Layoffs Dip as AI Drives Tech Cuts | San Francisco News
Description
Layoffs hit a two-year low in July, with 33,429 job cuts — the smallest since July 2024 — signaling a resilient job market despite economic turbulence. Unemployment claims also dipped below 200,000 weekly for the first time since October 2022, hinting at faster rehiring. AI remains the top driver of tech layoffs, accounting for over 30% of cuts — but mostly within the industry. Hiring remains steady but hasn’t rebounded fully post-pandemic. Meanwhile, entry-level corporate roles are shrinking by 15% while applications surge 30%, making those jobs harder to land.
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