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Tech Sector Sees Job Growth Amid Microsoft Layoffs

1/11/2025

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Summary

Story summary

The tech unemployment rate dropped to 2% in December 2024, the lowest since November 2023.
The tech sector added 7,000 jobs, reaching nearly 6.5 million total workers.
Microsoft announced job cuts impacting under 1% of its workforce, targeting underperforming employees.
Despite layoffs, Microsoft achieved strong Q1 FY25 earnings, reporting a net income of $24.7 billion.

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Story summary

The tech unemployment rate dropped to 2% in December 2024, the lowest since November 2023.
The tech sector added 7,000 jobs, reaching nearly 6.5 million total workers.
Microsoft announced job cuts impacting under 1% of its workforce, targeting underperforming employees.
Despite layoffs, Microsoft achieved strong Q1 FY25 earnings, reporting a net income of $24.7 billion.