Part 2/11:
Year-to-date figures reveal that over 800,000 jobs have been cut, reaching the highest levels since the peak of the pandemic shutdowns in 2020. This notable increase signals the intensification of a downward trend, with layoffs surpassing previous years' counts significantly. The cumulative losses reflect a market under pressure, with many sectors struggling to adapt to new economic realities.
However, job creation has failed to keep pace with these layoffs. The official July jobs report from the U.S. government reported only 73,000 new jobs added, significantly below the expected 110,000. This underperformance intensifies concerns about economic growth, job stability, and the resilience of the labor market.