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Story perspectives

Job Cuts Surge 47% Amid Economic Challenges

6/6/2025

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Summary

Story summary

In May 2025, U.S. employers reported 93,816 job cuts, marking a 47% rise from last year.
Year-to-date job cuts reached 696,309, an 80% increase from 2024.
The Department of Government Efficiency (DOGE) accounted for 284,044 layoffs.
Economic challenges and store closures significantly influenced job reductions.
Hiring plans rose by 57%, yet remain low compared to pre-pandemic figures.

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Story summary

In May 2025, U.S. employers reported 93,816 job cuts, marking a 47% rise from last year.
Year-to-date job cuts reached 696,309, an 80% increase from 2024.
The Department of Government Efficiency (DOGE) accounted for 284,044 layoffs.
Economic challenges and store closures significantly influenced job reductions.
Hiring plans rose by 57%, yet remain low compared to pre-pandemic figures.